Trump Announces New Tariffs on India, Pharma, and Chips Amid Market Volatility

President Trump announced plans to increase tariffs on countries buying Russian energy, notably raising tariffs on India for Russian oil purchases, and also indicated upcoming tariffs on pharmaceuticals and semiconductors to promote US manufacturing. He highlighted ongoing trade negotiations with China, aiming to extend a trade truce, while threatening further tariffs on other countries, reflecting a broad push to reshape global trade in favor of the US.