New Delhi, Aug. 6 -- A new trade standoff is brewing between the United States of America and India after US President Donald Trump threatened to significantly raise tariffs on Indian goods citing continued import of Russian oil as a key concern.
In a television interview on Tuesday, President Trump said he plans to hike the current 25 per cent tariff on Indian imports "very substantially" within the next 24 hours. The move comes shortly after India issued a strong rebuttal to tariff measures announced by the Trump administration.
"India has not been a good trading partner," Trump said. "They do a lot of business with us, but we don't do business with them. So we settled on 25 per cent, but I think I'm going to raise that very substantial...