Us tarifs on india: US President Donald Trump has indicated that the US can avoid imposing secondary tariffs (secondary tariffs) on the countries continuing to buy crude oil from Russia. It was feared that if Trump took this step, India could have been badly affected.
Trump signs of softness
President Trump said on Friday – “Well, he (Russian President Vladimir Putin) has lost a big oil customer like India, which imported about 40 percent oil. China, as you know, is importing too much… and if I imposed a secondary ban or secondary duty, it would be very destructive to them if I had to do it. If I had to do it, I would probably do not do it.
Trump made this statement to ‘Fox News’ in ‘Air Force One’ while going to Alaska for an important summit with Russian President Vladimir Putin. The meeting was aimed at ending the Russia-Ukraine war, but ended without any consent.
US Finance Minister Scott Besent said in an interview to ‘Bloomberg’ on Wednesday that if the conversation between Trump and Putin did not succeed in the summit, India could be imposed secondary sanctions due to buying oil from Russia. He said, “I think everyone is disappointed with President Putin. We hoped that he would talk more openly, but it did not happen.”
50 percent tariff will be applicable from August 27
Significantly, President Trump had announced a total of 50 percent fee on India last week. It also includes 25 percent additional fee levied on continuing oil purchases from Russia. This punitive fee will be effective from August 27. Reacting to this, the Indian Ministry of External Affairs said that targeting India is unfair and indispensable. The ministry clarified, “Like any major economy, India will take all necessary steps to protect its national interests and economic security.”
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