NEW YORK: U.S. President Donald Trump on Tuesday criticized India for being an unfair trading partner and announced plans to significantly increase tariffs on Indian goods within the next 24 hours.
Speaking to CNBC’s Squawk Box, Trump said, “India imposes the highest tariffs in the world. We do very little business with them because of those high tariffs, even though they do a lot of business with us.”
He further stated, “India has not been a good trading partner. We had settled on a 25% tariff, but I plan to raise it substantially in the next 24 hours, partly because they continue to purchase oil from Russia.”
