WASHINGTON (AP) — President Donald Trump says he’ll impose a 25% tariff on goods from India, plus an additional import tax because of India’s purchasing of Russian oil. Trump said on Truth Social on Wednesday that India “is our friend” but its “Tariffs are far too high” on U.S. goods.

Indian opposition parties criticised the government on Thursday, describing U.S. President Donald Trump's threat of a 25% tariff as a diplomatic failure for New Delhi, while the rupee currency tumbled and equity indexes slid in response to the news.

The president said Wednesday that imports from India would be subject to a 25 percent tariff as of Friday, as trade talks between the countries hit a stumbling block.