If India does not cooperate on the issue of Russian oil, the US may raise tariffs on Indian products. This warning was given by US President Donald Trump during a public address. Trump has made it clear that he wants India to stop buying oil from Russia. He linked this warning to the ongoing trade talks between India and the US and said that the US may decide to increase import duties on India very soon.
Speaking to reporters about India, Trump said, “They really wanted to make me happy. Prime Minister Narendra Modi is a very good man, he is a good man. He knew I was not happy. He trades and we can raise tariffs on him very quickly.”
These statements by Trump again highlight the tension between the two countries over India’s energy relations with Russia. A few months ago, Trump claimed that Prime Minister Narendra Modi had assured him that India would stop buying Russian oil. However, the Indian government rejected this claim and said that no such conversation took place between Trump and Modi.
Already 50% tariff on India
The US has already taken strict action against India for its heavy purchase of Russian oil. Last year, the US administration doubled the tariff on imports of Indian goods to 50 percent. The two countries are currently negotiating a possible trade deal, but no final agreement has been reached yet.
Significantly, after the start of the Russia-Ukraine war in 2022, India became the largest buyer of discounted Russian marine crude oil. Western countries protested against this and imposed sanctions on Russia’s energy sector. He argues that oil revenues help finance Russia’s war effort.