US President Donald Trump has once again warned India of possible fresh tariffs over its continued imports of Russian crude oil, even as the two countries remain engaged in talks for a broader bilateral trade agreement.
Speaking to reporters aboard Air Force One on Monday, Trump said the US could “raise tariffs on India” if New Delhi does not address Washington’s concerns over Russian oil purchases, according to a Reuters report.
He added that tariffs could be imposed “very quickly” if India fails to act to his satisfaction.
"Modi is a good guy. He knew I was not happy, and it was important to make me happy," Trump said.
India and the US are currently negotiating a comprehensive bilateral trade agreement, with a first tranche expected soon.
Analysts warn that fresh tariff threats could complicate negotiations and prolong uncertainty for exporters already under pressure.
Trump has repeatedly criticised India for buying Russian crude, arguing that such imports undermine US-led efforts to pressure Moscow.
He has previously claimed that a portion of the high tariffs imposed on India is “punishment” for its Russian oil purchases.
According to Trump, India faces some of the highest US tariffs globally, with duties rising sharply last year.
An initial 10 percent tariff was imposed on Indian goods.
This was followed by a hike to 25 percent in early August last year.
By the end of the same month, tariffs on certain Indian exports were raised to as high as 50 percent.
The tariff escalation has already weighed heavily on Indian exports to the US.
An analysis by the Global Trade Research Initiative shows Indian exports to the US fell 37.5 percent across sectors between May and September 2025.
Export values dropped from $8.8 billion to $5.5 billion over the period, marking one of the sharpest short-term declines in years.
Products that earlier faced zero tariffs saw exports plunge 47 percent.
Smartphones and pharmaceuticals were among the worst affected.
Aluminium exports fell 37 percent, copper 25 percent, auto parts 12 percent, and iron and steel 8 percent.
Textiles, gems and jewellery, chemicals, agri-foods and machinery exports declined 33 percent.
Marine products, processed foods and agricultural exports also recorded sharp falls.
(By arrangement with livemint.com)
