Trump threatens higher India tariffs, accuses it of funding war in Ukraine

President Trump on Monday threatened to further raise tariffs on India over the nation's purchases of Russian oil, accusing the country of profiteering. Why it matters: Having failed to strike a trade deal with India, after months of saying one was imminent, Trump is now going on the offensive against a long-standing ally.Catch up quick: The U.S. has threatened sanctions against countries that buy Russian oil, primarily China and India. But Trump has saved his sharpest ire on the subject for the latter. What they're saying: "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump said in a Truth Social post."They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA."His comments echo those made over the weekend by top Trump aide Stephen Miller, who accused India of financing Russia's war effort. By the numbers: India was hit with a 25% tariff in the updated levies released last Thursday. It's not clear how much higher the tariff might go; the White House did not immediately return a request for comment. The intrigue: Reuters reported over the weekend, citing Indian government sources, that the country intends to keep buying Russian oil despite the sanctions threat. Editor's note: This is a developing story and will be updated with additional information.

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