President Donald Trump is making new threats in his trade war, promising a 25% tariff on India’s exports to the US starting Aug. 1. He also threatened an additional penalty over the country’s energy purchases from Russia.

Oil prices climbed more than 1% on Wednesday as investors focused on developments on U.S. President Donald Trump's tighter deadline for Russia to end the war in Ukraine and his tariff threats to countries that trade its oil.

Russian President Vladimir Putin is standing defiant against President Donald Trump’s threats of tariffs and sanctions if no ceasefire in Ukraine comes to fruition, Reuters reported Wednesday. The Kremlin insisted that Russia would not cave to sanctions and tariff pressure from the U.