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Donald Trump has imposed a hefty 50% tariff on Indian goods, a move prompted by India's continued purchase of Russian oil. This action endangers over half of India's exports to its biggest market. According to New Delhi, the tariffs that come into effect today (Wednesday, August 27) will impact £35.8billion ($48.2bn) worth of exports. Initially, the US President announced a 25% tariff on Indian goods. However, earlier this month, he signed an executive order for an additional 25% tariff in response to India's purchases of Russian oil. This brings the total tariffs levied by the United States on its ally...

As External Affairs Minister S. Jaishankar prepares for crucial talks with Russian Foreign Minister Sergey Lavrov in Moscow, India finds itself at the centre of a diplomatic storm. President Trump has unleashed his most aggressive economic assault on India in recent memory, wielding tariffs and sanctions as weapons to force New Delhi away from its Russian partnerships. The pressure campaign began in August 2025 with sweeping 25% tariffs on Indian exports, later doubled to 50% specifically targeting Russian oil imports. For a nation whose economic planners depend heavily on US markets, this represents a devastating blow. Nearly 70% of India's...

Treasury Secretary Scott Bessent on Tuesday accused India of profiteering from cheap Russian oil imports during the war in Ukraine, describing the practice as "arbitrage" and condemning it as unacceptable. "They are just profiteering. They are reselling," Bessent told CNBC's "Squawk Box" in an interview. "This is what I would call the Indian arbitrage — buying cheap Russian oil, reselling it as product." "They've made $16 billion in excess profits — some of the richest families in India," Bessent said.

The Kremlin confirmed that Russian leader Vladimir Putin was expected to meet with President Trump in the coming days, saying that the meeting was being planned for a location that would be named later. The Russian statement on Thursday came hours after Trump said there was a “good chance” he would meet with Putin. The idea was raised by Russia during a meeting between special envoy Steve Witkoff and the Russian leader on Wednesday. Witkoff relayed the idea to Trump. During the meeting with Witkoff, Putin provided “concrete examples” of Russia’s conditions for agreeing to peace, according to Secretary of...

The US has a better understanding of the conditions under which Russia would be prepared to end its war in Ukraine after President Donald Trump's envoy Steve Witkoff met with Russian President Vladimir Putin, Secretary of State Marco Rubio said on Wednesday. "For the first time perhaps since this administration began, we have some concrete examples of the kinds of things that Russia would ask for in order to end the war," Rubio said in an interview with Fox Business Network's Kudlow, adding that the key elements of any agreement would involve territory. He added that he doesn't know if...

A bilateral meeting between President Donald Trump and Russian President Vladimir Putin could happen as soon as next week, according to a White House official. White House special envoy Steve Witkoff returned from Moscow on Wednesday and relayed to President Trump that Putin would like to meet with him, the official said. In response, Trump indicated he is open to that if Putin also meets with Ukrainian President Volodymyr Zelenskyy, the official added. Witkoff met with Putin for several hours on Wednesday ahead of the Friday deadline imposed by Trump for Russia to agree to a ceasefire with Ukraine or...

U.S. President Donald Trump on Wednesday said his special envoy Steve Witkoff had made "great progress" in his meeting with Russian President Vladimir Putin, as Washington continued its preparations to impose secondary sanctions on Friday. Trump, in a post on Truth Social, said he had briefed some European allies about Witkoff's meeting with Putin, which was focused on ending the 3-1/2-year war that began with Russia's full-scale invasion of Ukraine in February 2022. "Everyone agrees this War must come to a close, and we will work towards that in the days and weeks to come," Trump added, without providing further...

Trump's imposition of additional tariffs is "unfair, unjustified and unreasonable", the Ministry of External Affairs said. Shortly after US President Donald Trump announced an additional 25% tariffs on India on Wednesday, the Indian Ministry of External Affairs issued a statement, noting that the country will "take all all actions necessary to protect its national interests." The additional import levies have been slapped by Trump to "penalise" India for its continued purchase of Russian crude oil. The MEA, in its statement, said India's imports are based on market factors and done with the "overall objective of ensuring the energy security of...

President Trump took executive action Wednesday to hammer India with an additional 25% tariff due to its continued purchases of Russian oil. The move, which will take effect Aug. 27, will increase the total US tariff rate on India to 50% and comes ahead of Trump’s Friday deadline for Russia to make peace with Ukraine or face secondary tariffs or sanctions — penalties on countries that continue purchasing energy from Moscow. “The actions and policies of the Government of the Russian Federation continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United...

United States President Donald Trump signed an executive order on Wednesday imposing an additional 25% tariff on India in response to its continued purchase of Russian oil. More to come...