Trump threatens 250pc tariffs on drug imports
The US is due to impose 25pc tariffs on imports from India but Trump threatened to lift this further in his latest escalation.
'We settled on 25pc but I think I'm going to raise that very substantially over the next 24 hours because they are buying Russian oil, they are fuelling the war machine, and if they're going do that I'm not going to be happy,' he said, adding that India had 'not been a good trading partner'.
'The sticking point with India is that tariffs are too high ... They will give us zero tariffs and they're going to let us go in but that's not good enough because of what they are doing with oil.'
Mr Trump also renewed his attacks on Jerome Powell, the chairman of the Federal Reserve, and repeated his calls for the central bank to cut interest rates.
'Jay Powell is highly political and I call him ... Too Late Jerome, Too Late Powell,' he said.
Mr Trump added that Scott Bessent, the US treasury secretary, 'does not want' to be chairman of the Federal Reserve but said that there were four others in the running for the position.
Mr Powell's term as chairman of the Federal Reserve ends in May 2026.
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