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US President, Donald Trump
U.S. President Donald Trump on Monday said he would “substantially” raise tariffs on Indian goods in response to India’s continued purchase and resale of Russian oil.
In a post on his Truth Social platform, Trump accused India of profiting from the war in Ukraine.
“India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine,” Trump wrote.
“Because of this, I will be substantially raising the Tariff paid by India to the USA,” he added.
The warning is part of Trump’s pressure campaign against nations maintaining economic ties with Russia, especially those benefitting commercially from discounted Russian crude.
India, the world’s third-largest oil importer, currently sources over 35% of its crude from Russia.
Two Indian officials told Reuters over the weekend that the country would continue its oil purchases despite Trump’s threat, showing India’s strategic interest in affordable energy and longstanding defense cooperation with Russia.
The warning comes days after Trump imposed a 25% tariff on Indian imports, citing India’s “rigid” trade barriers and ongoing military ties with Russia.
The White House said the 25% tariff will remain in place unless a trade deal is reached. Trump’s team has also hinted at further “Russia-related penalties” that could include secondary sanctions on countries continuing energy trade with Russia.
Trump is reportedly demanding a near-total removal of Indian trade barriers, citing recent deals with Japan and the EU as benchmarks.
The tariff threats are also part of an ultimatum Trump issued to Russian President Vladimir Putin to end military operations in Ukraine within 50 days. The deadline expires August 8.
While the measures may strain U.S.-India ties in the short term, the Trump administration believes they are necessary to pressure Russia into a ceasefire in Ukraine.
Source: TheWhistler | Continue to Full Story…
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