Donald Trump Says US Will Hike Tariffs On India Over Russian Oil In Next 24 Hours

US President Donald Trump has signalled a hardening stance on India’s continued energy trade with Russia, warning that tariffs on Indian goods could soon be raised sharply. The warning comes as Trump intensifies his campaign rhetoric around trade imbalances and national interest.

Speaking to CNBC in a televised interview on Tuesday, Trump said he may "substantially" increase tariffs on Indian goods within the next 24 hours. He cited New Delhi’s ongoing imports of discounted Russian crude oil as a major point of contention. “They’re still buying oil from Russia,” Trump said. “We have to respond. India’s tariffs are a joke — too high, too unfair.”

Trump also took aim at what he described as a lopsided trading relationship. “India has not been a good trading partner, because they do a lot of business with us, but we don't do business with them,” he said. According to him, an earlier 25% tariff agreement might now be insufficient. “So we settled on 25 percent but I think I'm going to raise that very substantially over the next 24 hours, because they're buying Russian oil.”

Energy, economics, and global tensions

On the broader geopolitical impact of energy prices, Trump downplayed concerns over rising oil costs. Instead, he suggested that falling energy prices could serve as an economic lever against Russian President Vladimir Putin. “If energy prices fall another $10 a barrel, Putin will have no choice but to stop,” he said, arguing that Russia’s war economy is deeply dependent on fossil fuel exports.

Broader trade action in pipeline

Beyond India, Trump also hinted at a fresh wave of trade measures. He announced plans to impose a “modest” tariff on pharmaceutical imports and teased an upcoming policy move concerning semiconductors and chip manufacturing. An announcement on that front is expected in the next week, as part of Trump’s ongoing agenda to reduce U.S. reliance on foreign supply chains and bolster domestic industry.