With threats of tariffs up to 50 percent, President Trump seems to be scrapping America’s plan to turn India into a counterweight to China, declaring instead that it is a “dead economy.”

U.S. President Donald Trump on Wednesday said he could announce further tariffs on China similar to the 25% duties announced earlier on India over its purchases of Russian oil, depending on what happens.

US President Donald Trump has said he may impose additional tariffs not only against India but also against other countries that purchase Russian oil, including China. Source: Ukrinform, citing Trump during a briefing at the White House Quote from Trump: "You're going to see a lot more [countries].