Trump Tariffs On India Updates: China Next? 'Could Happen', Says US President

US President Donald Trump, on being asked by reporters during a press briefing whether he would raise tariffs on China similar to India, said that could happen.

"Could happen. Depends on how we do. Could happen," he responded.

"It's only been 8 hours. So let's see what happens. You're going to see a lot more...You're going to see so much secondary sanctions," Trump added, while responding to another question on similar lines.

To sum up all the action on the Indo-US trade front today:

• US President Donald Trump has imposed an additional 25% tariff on India for its continued purchase of Russian crude oil, the White House said in a statement on Wednesday.

• The new tariff will come into effect from Aug. 27, as per an executive order issued by the Trump administration.

• This move comes just a week after Trump announced 25% reciprocal tariffs on Indian goods, which will be implemented starting Aug. 7.

• In response, the Indian government said it would take all actions necessary to protect the country's national interests.

• Indian stocks listed in the US and the GIFT Nifty dropped following the announcement.

• Global oil prices rose, with WTI crude hitting an intraday high amid trade developments.

Brent crude futures last rose 80 cents, or 1.2%, to $68.44 a barrel, while US West Texas Intermediate (WTI) crude rose 80 cents, or 1.2%, to $65.96. WTI hit an intraday high of $66.75 after Trump's tariff update.

According to India's Directorate General of Commercial Intelligence and Statistics, exports to the US stood at $86.5 billion during the April 2024–March 2025 period, marking a strong 11.61% year-on-year growth. India's total exports for the fiscal 2025 touched $437.5 billion.

The momentum continued in the first quarter of this fiscal as India exported goods worth $20.8 billion to the US, reflecting a 22.2% growth in comparison to the same quarter last year.

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The US says it will still impose sanctions on Russia's trading partners despite 'highly productive' talks, reported news agency AFP.