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Trump renews tariff threat
Financial Express Mumbai
|January 06, 2026
CAN RAISE TARIFFS ON INDIA 'VERY QUICKLY', SAYS US PRESIDENT
US PRESIDENT DONALD TRUMP has warned that the US may further raise the tariffs on Indian merchandise.
His comments cast a darker cloud over India's export prospects at a time when a 50% additional tariff by the US has already caused substantial foreign exchange losses to the country since May.
Adding to US senator Lindsey Graham's comment that because of the high US tariffs, India is buying substantially less oil from Russia, Trump said: "Modi is a good guy. He knew I was not happy and it was important to make me happy." He, however, went on, and seemed to contradict Graham. "They (India) do trade (with Russia) and we could raise tariffs (on them) very quickly and it would be very bad for them," Trump said.
The Indian government did not respond to the US president's latest remarks.
This story is from the January 06, 2026 edition of Financial Express Mumbai.
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