financetom
Business
financetom
/
Business
/
Trump says he will 'substantially' raise tariffs on India over Russian oil purchases
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump says he will 'substantially' raise tariffs on India over Russian oil purchases
Aug 4, 2025 8:35 AM

WASHINGTON (Reuters) -U.S. President Donald Trump said on Monday he willsubstantially raise tariffs on India over its purchases of Russian oil. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine," Trump said in a post on Truth Social.

"Because of this, I will be substantially raising the Tariff paid by India to the USA."

He did not elaborate on what the tariff would be.

Trump last week said he would impose a 25% tariff on goods imported from India and added that the world's fifth-largest economy would also face an unspecified penalty but gave no details.

Over the weekend, two Indian government sources told Reuters that India will keep purchasing oil from Russia despite U.S. Trump's threats. The sources did not wish to be identified due to the sensitivity of the matter.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Mongolia Growth Announces Closing of KEDM Transaction and Transfer to the NEX Board of the TSX Venture Exchange
Mongolia Growth Announces Closing of KEDM Transaction and Transfer to the NEX Board of the TSX Venture Exchange
Nov 3, 2025
TORONTO, ON / ACCESS Newswire ( ACCS ) / November 3, 2025 / Mongolia Growth Group Ltd. ( MNGGF ) (MGG or the Company) announced today that, further to its news releases dated August 28, 2025, September 26, 2025 and October 8, 2025, the Company has completed the sale of its KEDM business for consideration of the assumption of all...
Metalla Up 2% in U.S. Pre-market After Increasing Cote-Gosselin Royalty
Metalla Up 2% in U.S. Pre-market After Increasing Cote-Gosselin Royalty
Nov 3, 2025
07:44 AM EST, 11/03/2025 (MT Newswires) -- Metalla Royalty & Streaming ( MTA ) traded 1.8% higher at last look Monday in NYSE American pre-market trading as the company completed the acquisition of the remaining 0.15% net smelter royalty interest on a portion of the Cote gold mine and the Gosselin project in Ontario. Metalla said it paid C$3.4 million...
Bruker Q3 Earnings, Revenue Fall; 2025 Outlook Lowered; Shares Down Pre-Bell
Bruker Q3 Earnings, Revenue Fall; 2025 Outlook Lowered; Shares Down Pre-Bell
Nov 3, 2025
07:43 AM EST, 11/03/2025 (MT Newswires) -- Bruker ( BRKR ) reported Q3 adjusted earnings Monday of $0.45 per diluted share, down from $0.60 a year earlier. Analysts polled by FactSet expected $0.33. Revenue for the quarter ended Sept. 30 was $860.5 million, down from $864.4 million a year earlier. Analysts surveyed by FactSet expected $846.4 million. For 2025, the...
Top Premarket Gainers
Top Premarket Gainers
Nov 3, 2025
07:43 AM EST, 11/03/2025 (MT Newswires) -- Caribou Biosciences ( CRBU ) shares were 40% higher pre-bell Monday after the company said its phase 1 trial of a treatment candidate for multiple myeloma showed an overall response rate of 92%. Currenc Group ( CURR ) stock was up 34% after the company said it has offered to acquire Animoca Brands...
Copyright 2023-2026 - www.financetom.com All Rights Reserved