President Donald Trump is expected to announce secondary tariffs on nations trading with Russia Friday as his approach toward Putin shifts during the ongoing Ukraine war.

India and Russia agreed to boost trade ties on Thursday as their foreign ministers met in Moscow, giving little indication that U.S. President Donald Trump's hefty tariffs on India for buying Russian oil would disrupt their relations.

The EU agreed to eliminate tariffs on industrial goods and many agricultural products, while the U.S. will reduce tariffs accordingly.

The United States has doubled tariffs on India, raising them to 50%, and the White House has linked this move to efforts at ending the ongoing Russia–Ukraine war. White House Press Secretary Caroline Levitt said in a briefing that President Donald Trump’s decision to sharply increase tariffs on India is part of a broader strategy to pressure countries globally in order to push Moscow and Kyiv towards peace negotiations.

WASHINGTON: US Treasury Secretary Scott Bessent on Tuesday (Aug 19) accused India of profiteering from its increased purchases of Russian oil during the war in Ukraine, saying Washington viewed the pr

The Indian rupee saw its biggest rise in over a month on Tuesday over optimism that U.S. may ease its stance on the additional 25% tariffs imposed on domestic goods after Donald Trump met with the Russian and Ukrainian presidents.

"I'll be setting tariffs next week and the week after on steel and on, I would say, chips," Trump told reporters aboard Air Force One as he headed to a meeting with Russian President Vladimir Putin in Alaska.