Donald Trump's 'massive tariffs' warning on India buying Russian oil - What's the latest on trade talks with US - top points

US President Donald Trump has again renewed pressure on India, warning that New Delhi could continue to face "massive tariffs" if it doesn’t stop importing oil from Russia. Speaking to reporters aboard Air Force One, Trump claimed Prime Minister Narendra Modi personally assured him that India would stop buying Russian crude."I spoke with Prime Minister Modi of India, and he said he's not going to be doing the Russian oil thing," Trump said, repeating remarks from last week. When told that India had no record of such a conversation, he said, "But if they want to say that, then they'll just continue to pay massive tariffs, and they don't want to do that." The statement comes amid US efforts to curb global energy trade with Russia, which Washington argues funds Moscow’s war in Ukraine.

India rejects Trump's claim

New Delhi firmly rejected Trump’s remarks. MEA spokesperson Randhir Jaiswal said, "India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. Our import policies are guided entirely by this objective," said MEA spokesperson Randhir Jaiswal.He further highlighted India's twin goals of maintaining stable energy prices and ensuring secure supplies: "This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions."

Officials added that the Trump administration has expressed interest in expanding energy cooperation with India, and that discussions on the issue are ongoing.

Trade talks continue amid tensions

Despite the tariff rhetoric, India-US trade negotiations are moving forward. Earlier last week on Saturday Union commerce minister Piyush Goyal stated that the discussions were progressing in a "cordial atmosphere," stressing that India will protect the interests of farmers, fishermen, and the MSME sector."I believe the talks are progressing in a very cordial atmosphere and I have said many times that free trade agreements or trade talks are never based on deadlines. There is no agreement unless we fully address the interests of the nation - India's farmers, India's fishermen, India's MSME sector," Goyal told reporters, adding that talks are continuing in a constructive manner, as per news agency PTI."The talks are progressing very well. The talks are ongoing and we will definitely inform you when we reach a decision", he added.As per reports, the proposed trade deal is expected to see its first tranche finalised by October–November 2025, aims to more than double bilateral trade to $500 billion by 2030 from the current $191 billion. The US remains India’s largest trading partner for the fourth consecutive year, with trade valued at $131.84 billion in 2024–25.Officials noted that while around 45% of Indian exports remain outside US tariff coverage, discussions are ongoing at multiple levels to find a "win-win solution."

India has emphasised red lines on agriculture, MSMEs, digital trade, e-commerce, and intellectual property rights.

Trump also signals tariff moves on China

Meanwhile, Trump also indicated he might reduce tariffs on Chinese goods, but only if Beijing offers concessions. "They’re paying us a lot of money, a tremendous amount of money in tariffs, and they'd probably like to have it be less. We'll work on that, but they have to give us some things too," Trump said.Earlier, the US announced an additional 100% tariff on Chinese imports effective November 1, raising total duties to 130% in response to China’s restrictions on rare earth mineral exports. China has warned of retaliation, calling high tariffs "not the right way to get along." Trump said that in exchange for lower tariffs, China must buy more US soybeans, curb fentanyl exports, and halt restrictive policies on rare earth minerals.The latest statements from Trump underscore ongoing uncertainty in global trade, where tariffs, oil, and geopolitics are deeply intertwined. While India maintains its focus on protecting domestic interests, the US continues to push for concessions, keeping both trade talks and energy discussions under close scrutiny.