US Treasury Secretary Scott Bessent has warned India of increasing secondary tariffs over the Russian oil trade. He said the raise in tariffs is dependent on the outcome of US President Trump's high-stakes meeting with Russian President Putin.

Trump’s latest stunt, blasted on Truth Social on July 31, 2025, targets Bharat’s exports—diamonds, soybeans, textiles, agriculture, dairy, and nuts—with a tariff that feels like a personal vendetta.

The announcement caught Indian policymakers off guard, particularly given Prime Minister Narendra Modi’s apparent support for Trump’s re-election campaign.