Trump has threatened to raise tariffs on India significantly due to its continued oil purchases from Russia amid the ongoing Ukraine conflict. India criticized the threats as unreasonable and reiterated its right to secure energy supplies, emphasizing that its actions were in response to market disruptions caused by Western sanctions on Russia.
Trump Imposes Threat of Increased Tariffs on India for Russian Oil Purchases
Trump Imposes Threat of Increased Tariffs on India for Russian Oil Purchases
Former President Trump escalates tensions with India over its Russian oil imports, promising substantial tariffs while India defends its energy procurement strategy.
Donald Trump has expressed intentions to "substantially" increase tariffs on India in retaliation for the latter’s continued purchase of oil from Russia. On his social media platform, Truth Social, Trump criticized India, stating, "They [India] don't care how many people in Ukraine are being killed by the Russian War Machine." This statement follows reports that India has emerged as one of the largest buyers of Russian oil after a massive shift in global trade dynamics due to the ongoing conflict in Ukraine.
Despite not disclosing specific figures, Trump's escalation came shortly after he had proposed a 25% duty on Indian imports, which India labeled as "unjustified and unreasonable." The country's foreign ministry, represented by spokesman Randhir Jaiswal, pointed out that the US had initially advised India to consider Russian gas imports for global energy market stability amidst the ongoing war. Jaiswal emphasized that India began purchasing oil from Russia as traditional sources were redirected to Europe following the outbreak of hostilities.
The tension ratchets up as the US, while engaging India as a significant trading partner, continued to transact with Russia, with US goods trading valued at approximately $3.5 billion last year despite the sanctions in place. India has consistently argued that, like any major economy, it will make necessary moves to protect its interests and maintain economic security.
Trump's social media assertions about India’s oil trade practices have been met with skepticism by experts. Ajay Srivastava, a former Indian trade official affiliated with the Global Trade Research Initiative (GTRI), stated that India's acquisition of oil is conducted transparently and in response to global supply chain disruptions caused by Western sanctions, aiming to mitigate potential spikes in global oil prices.
While Trump has ramped up his stance against the Kremlin upon returning to the presidential office, having once softened relations, he now uses stark language to describe Russia's military actions. His comments come with a demand for a ceasefire in Ukraine by August 8; otherwise, he threatens severe tariffs on Russian imports.
Meanwhile, preparations are underway for a visit from US envoy Steve Witkoff to Russia to confer with President Putin, as tensions around global energy supply continue to unfold against a backdrop of fraught international relations.
