India’s government is scrambling to contain the economic fallout from President Trump’s threatened tariff action.

President Trump vowed Monday to “substantially” jack up the US tariff on imports from India due to New Delhi’s continued purchase of Russian oil as Moscow’s invasion of Ukraine grinds

President Donald Trump Monday said he would "substantially" raise tariffs on India for "buying massive amounts of Russian oil" and "selling it on the open market for big profits," elaborating on his threat last week to impose a penalty on top of a 25% tax for Indian imports.