US President Donald Trump claims tariffs on India for buying Russian oil hit Moscow’s weak economy hard. India faces 50% duty on goods combining 25% initial tariff with additional 25% penalty.
Trump says move strengthens Washington politically, economically accusing India of fueling Ukraine war indirectly through oil purchases.
Meanwhile, US pauses trade war with China, suspending tariff hikes for 90 days. Agreement keeps 30% US import duties, 10% Chinese import duties unchanged. Both sides earlier threatened triple-digit tariffs, risking trade halt. Now, they view pause as chance for constructive talks.
Former US National Security Adviser John Bolton warns Trump’s tariff strategy backfires. He suggests pushing India risks driving New Delhi closer to Russia, China. Bolton sees Washington’s diplomatic misstep creating tensions with ally.
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Trump also announces no tariffs on gold bar imports to avoid market panic. Until Friday, 39% duty fears on one-kilo, 100-ounce gold bars rattled investors. Post-announcement, global gold prices drop.
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