With a Friday deadline for Russia to agree to peace in Ukraine or have its oil customers face secondary tariffs, Trump has found a novel, but risky, use for his favorite trade tool.

President Donald Trump on Wednesday announced sweeping and substantial tariffs on India, one of America’s most important trading partners. In addition to a 25% tariff that is set to go into effect Thursday,

Tariffs on Indian exports to the United States will surge to 50 percent by late August, as part of an effort by President Trump to pressure Russia into resolving its war in Ukraine.