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.”

Trump has signed an executive order to place an additional 25% tariff on India for its purchases of Russian oil.

In an executive order, Trump says "I find that the Government of India is currently directly or indirectly importing Russian Federation oil" and due to those purchases, imports of Indian goods into the United States "shall be subject to an additional ... rate of duty of 25%."