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US Treasury Minister Scott Igent has warned that Washington could increase secondary tariffs for India.
He said the decision would depend on the results of President Donald Trump’s meeting with his Russian counterpart Vladimir Putin in Alaska on Friday.
“We have put secondary tariffs on the Indians for the purchase of Russian oil. And I could see if everything wasn’t good, then sanctions or secondary tariffs can rise in price,” said the infant Interview in Bloomberg TV Wednesday.
Previously this month Trump imposed 25% punishment In India, in addition to 25% of oil and weapons in Russia.
The United States is trying to meditate to cease fire between Russia and Ukraine, and on Wednesday, Trump warned of “grave consequences” when Moscow does not agree with the peaceful deal.
Trump and Putin set for a meeting In an anchridge on Friday to discuss how to end the war in Ukraine.
“President Trump meets with President Putin, and Europeans in the wings that follow how he should do it.
Increased imports of Delhi cheap Russian raw materials since the war of Ukraine tense in India and violated permanent trade talks with Washington.
Russian oil amounted to 35% to 40% of India’s oil imports in 2024 – compared to 3% in 2021.
Delhi defended his purchases of Russian oil, claiming that, as the main importer of energy, he must buy the cheapest available on the rough to protect millions of poor Indians from the cost.
Comments of the infant came after he called India “a little disobedient” at trading negotiations in Interview with Fox Business On Tuesday.
Trump says his tariffs are part of his plan for raising the US economy and make world trade justice.
He repeatedly called India a tariff rapist and seeks to trim a $ 45 billion deficit (33 billion pounds) with the third largest Asia economy.
Trade negotiations between Delhi and Washington have been holding several months, and they will be updated with the US negotiating participants who are expected to arrive in India on August 25.
But experts say that India’s refusal to reduce duties in agriculture and dairy products became the main thorn in the negotiations.
Trump’s new tariff rate in India intends to come into force on August 27, which, according to some experts, is similar to an embargo on trade between the two countries.
This makes India most taxed in the American trading partner in Asia and is expected to greatly interfere with its export -oriented industries such as textiles and decorations, and can drag India’s growth by one and a half percent.
