Why is India singled out for buying Russian oil? Donald Trump answers

When he was asked about why he singled out India for buying Russian oil even when China is doing the same, Trump said, "It's only been 8 hours. So let's see what happens. You're going to see a lot more...You're going to see so much secondary sanctions."

Trump's latest tax crusader takes total duties on import of Indian goods into the United States to 50 percent, 20 percent more than the tariff on China and 31 percent more than on Pakistan.

In an executive order signed, Trump wrote, "I find the Government of India is currently, directly or indirectly, importing Russian Federation oil... in my judgement I determine it necessary to impose an ad valorem duty on imports of articles from India..."

The 50 percent tariff hit comes hours after angry comments about India-US trade relations.

"India has not been a good trading partner... we settled on 25 percent... but I think I'm going to raise that substantially over the next 24 hours because they're buying Russian oil," he told a US broadcaster.

That potential change has been underlined by Trump giving Pakistan a big rate cut on Islamabad's tariff to 19 percent and signing a new trade deal, including plans to develop Pak's oil reserves.

Trump announced on Wednesday that he would increase the tariffs imposed on Indian imports "very substantially" over the next 24 hours due to India's continued purchases of Russian oil.

"India has not been a good trading partner, because they do a lot of business with us, but we don't do business with them. So we settled on 25 percent but I think I'm going to raise that very substantially over the next 24 hours, because they're buying Russian oil," he told CNBC in a televised interview.

'India won't compromise... ready to pay heavy personal price': Modi

In a strong response to Trump's 50 percent tariffs on Indian imports, India's Prime Minister Narendra Modi on Thursday said his country won't compromise and he is even "ready to pay heavy personal price".

"For us, the welfare of our farmers is the highest priority. India will never compromise on the interests of its farmers, livestock rearers, and fisherfolk. I know I will have to pay a heavy personal price for this. But I am ready," Modi said.

"For the fisherfolk of my country, for the livestock rearers of my country — today, India is ready. We are continuously working towards increasing farmers’ income and creating new sources of livelihood," he added.

India calls Trump's 25 pct additional tariffs 'unfair, unjustified'

In a calm but strongly worded statement, New Delhi said the extra tariff was "unfair, unjustified and unreasonable" and declared that it would "take all actions necessary to protect national interests".

Within hours, the External Affairs Minister, in a statement, said the United States "has in recent days targeted India's oil imports from Russia".

"We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India. It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest".

"We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests," the statement added in no uncertain terms.