President Trump mentioned on Monday he’ll “considerably” elevate tariffs on India. Shares nonetheless remained in rally mode following Friday’s sell-off.
“India just isn’t solely shopping for huge quantities of Russian Oil, they’re then, for a lot of the Oil bought, promoting it on the Open Marketplace for huge earnings,” wrote Trump on Monday morning.
“They don’t care how many individuals in Ukraine are being killed by the Russian Conflict Machine. Due to this, I will likely be considerably elevating the Tariff paid by India to the USA,” he added.
President Trump’s sweeping tariffs are set to return into full impact later this week. Final week, Trump introduced a 25% tariff on items from India, plus an extra import tax due to the nation’s buying of Russian oil.
