Trump Signals Possible New Tariffs on India Over Russian Oil Imports
US President Donald Trump has hinted at imposing fresh tariffs on India over its continued purchases of Russian oil, saying Prime Minister Narendra Modi was aware of his dissatisfaction on the issue. Speaking to reporters aboard Air Force One, Trump said India could face higher trade penalties quickly if Washington remains unhappy with New Delhi’s trade and energy decisions.
The remarks come amid stalled trade negotiations between the two countries, with the United States pressing India to lower import duties and allow greater access for American agricultural products. US negotiators have made market access for farmers a key demand, while India has resisted, citing the need to protect its domestic farming and dairy sectors.
Trade tensions escalated last year when Trump imposed a 25% reciprocal tariff on Indian goods, along with an additional 25% levy linked to India’s Russian oil imports, resulting in combined duties of up to 50% in some sectors. Despite recent talks between Trump and Modi aimed at keeping negotiations alive, the deadlock persists, with Washington signaling it may raise tariffs further if no agreement is reached.
Pic courtesy: google/ images are subject to copyright
