US President Donald Trump has threatened to impose higher tariffs on India very soon because the country does business with Russia. "We settled on 25% but I think I'm going to raise that very substantially over the next 24 hours,

When asked about the price of oil if Russian supplies were removed from the market, Trump said he was not concerned about prices, as the US is drilling at levels never seen before.

Trump's threat to India over its purchases of Russian oil started on July 31, when he announced a 25% tariff for Indian goods, along with an unspecified penalty.