Trump Threatens Major Tariff Hike On India Over Russian Oil Imports

Trump Warns of Higher Tariffs on India for Buying Russian Oil; India Hits Back

US President Donald Trump has once again criticized India over trade and oil relations with Russia. In a recent interview with CNBC, Trump said India has not been a good trading partner and accused the country of having the highest tariffs in the world. He announced plans to increase US tariffs on Indian goods “very substantially” within 24 hours.

“India has extremely high tariffs. We do very little business with them because of these tariffs. It’s not fair,” Trump said. He further claimed that India continues to buy oil from Russia and is “fueling the war machine” amid the Ukraine conflict.

Trump noted that although India agreed to reduce tariffs in previous talks, he’s still not satisfied due to its ongoing trade with Russia. “They offered us zero tariffs, but what they’re doing with Russian oil is not acceptable,” he added.

Just a day before this statement, Trump had already warned of a major increase in tariffs on India, accusing the country of buying large quantities of Russian crude oil and profiting from it. He also signed an Executive Order titled “Further Modifying the Reciprocal Tariff Rates”, which includes raising tariffs on over 60 countries, with India facing a 25% increase.

India responded strongly to Trump’s remarks and defended its right to maintain energy ties with Russia. The Ministry of External Affairs (MEA) issued a sharp statement calling the criticism “unjustified and unreasonable.”

India pointed out the double standards, highlighting that both the United States and European Union continue to do business with Russia in various sectors. “European countries still trade with Russia in chemicals, fertilizers, iron, steel, and machinery,” the MEA said. “The US also imports Russian uranium for its nuclear plants and palladium for electric vehicles.”

The ministry emphasized that India’s decisions are based on national interest and economic needs. “India, like any major economy, will do what’s necessary to safeguard its economic security,” the statement said.

White House Deputy Chief of Staff Stephen Miller also echoed Trump’s concerns in a Fox News interview, saying that India’s oil imports from Russia help finance the war in Ukraine.

Trump has previously expressed frustration over India’s close ties with Russia. He claimed that India buys most of its military equipment and energy from Moscow and that such actions are harmful at a time when global powers are trying to isolate Russia.

India, on the other hand, rejected the criticism and reminded the world that it is currently the fastest-growing major economy. Officials argue that their energy deals with Russia are vital for the country’s development and energy security.

Highlights:

Trump plans to raise tariffs on Indian goods over Russian oil imports.
He accuses India of having the highest tariffs and unfair trade practices.
India hits back, calling US criticism hypocritical and politically motivated.
MEA defends India’s energy needs and economic interests.
Trump signs an executive order raising tariffs on over 60 countries, including India.
US and EU also continue trade with Russia in various sectors.

Connect with us through social media