President Trump on Monday said he would be "substantially raising" tariffs on India as he presses the nation over its purchases of Russian oil, effectively accusing the nation of subsidizing Russia's war in Ukraine.

"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 alleged on Truth Social. "They don’t care how many people in Ukraine are being killed by the Russian War Machine."


Trump has trained his ire on both India and China over its purchases of Russian oil. China called the demand a key hurdle in trade talks, while India hasn’t committed to stopping purchases and is urging citizens to support local goods.

India is facing 25% tariffs on its exports to the US under plans Trump moved into action last week.

Trump signed an order to hike tariffs on Canada to 35%, while setting rates from 10% to 40% on dozens of partners. Those duties are set to come into full effect this week as Trump looks set to dramatically change the US trade landscape. US Trade Representative Jamieson Greer said that the latest round of tariffs is "pretty much set" and unlikely to change.

Yahoo Finance's Ben Werschkul has more details on the latest orders. You can see the new rates Trump is set to levy in the graphic below:


In the past several days, Trump has unleashed a flurry of deals and trade moves leading up to his self-imposed deadline:

Trump granted Mexico, the US's largest trading partner, a 90-day reprieve on higher tariffs.

The US agreed to a trade deal with South Korea. The agreement includes a 15% tariff rate on imports from the country, while the US will not be charged a tariff on its exports, Trump said.

Trump imposed 50% tariffs on semi-finished copper products starting Aug. 1.

The president signed an order to end the de minimis exemption on low-value imports under $800, thereby applying tariffs from Aug. 29.

Trump signed another order to impose a total of 50% tariffs on many goods from Brazil. However, it exempts key US imports like orange juice and aircraft parts that benefit Embraer (ERJ).

The US and EU agreed to a trade deal that imposes 15% tariffs on EU goods. The nations are still working on finalizing many terms of the deal.