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Trump says U.S. can raise tariffs on India 'very quickly' | Deepscope News
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 January 5, 2026 03:05 PM  seekingalpha.com Positive

Trump says U.S. can raise tariffs on India 'very quickly'

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[Flag of India and Russia painted on a concrete wall. Relationship between India and Russia]
Tomas Ragina/iStock via Getty Images

U.S. President Donald Trump hinted at raising tariffs on India due to its continued Russian oil purchases amid the Ukraine conflict.

Trump told reporters aboard Air Force One that India, under Prime Minister Narendra Modi, knows how to keep him happy, indicating oil imports.

“They [India] wanted to make me happy, basically. Modi is a very good man; he is a good guy. He knew I was not happy, and it was important to make me happy,” Trump said.

In response to a question, Trump said, "They do trade, and we can raise tariffs on them very quickly,"

The Trump administration levied a 25% “penalty" citing India’s trade in Russian crude during the Ukraine-Russia war. In total, a 50% levy has been imposed [https://seekingalpha.com/article/4820360-tariffs-weigh-india-growth-outlook-despite-tax-relief] since August 2025, and no bilateral trade agreement has been signed yet.

Trump and Modi have spoken at least three times over the phone since he imposed tariffs, but the discussions remain inconclusive. Notably, Russia and the U.S. made up nearly half of India’s oil imports in November 2025.

DEAR READERS: We recognize that politics often intersects with the financial news of the day, so we invite you to click here [https://seekingalpha.com/article/4854638-politics-and-the-markets-010526] to join the separate political discussion.

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