Trump Mulls Substantial Tariff Hike on India in Next 24 Hrs

US President Donald Trump said Tuesday he was considering “substantially” hiking tariffs on Indian imports in the next 24 hours over the country’s purchases of Russian oil. “India has not been a good trading partner, because they do a lot of business with us, but we don’t do business with them. So we settled on 25 percent but I think I’m going to raise that very substantially over the next 24 hours, because they’re buying Russian oil,” he said. The US president added that upcoming tariffs on imported pharmaceuticals could go as high as 250 percent — after starting at a lower level — adding he plans to unveil fresh duties on foreign semiconductors. (AFP)