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Fate of India tariff depends on Trump-Putin talks today, warns top US official
“I could see, if things don’t go well, then sanctions or secondary tariffs could go up,” US treasury secretary Scott Bessent said.
US President Donald Trump said on Thursday that his punitive tariffs on India were designed to pressure Russian president Vladimir Putin into Ukraine negotiations by cutting off Moscow’s oil revenue – and suggested the approach was working – ahead of a crucial meeting on Friday between the American and Russian leaders.
His comments came as US treasury secretary Scott Bessent warned penalties could increase further if talks with Putin fail.
When asked during a Fox News podcast interview whether his threat of additional sanctions prompted Russia to seek talks that are scheduled for Friday in Alaska, Trump cited the punitive tariffs on India as being one of the factors for bringing Moscow to the negotiations.
“I think everything has an impact. [For instance], when I told India and which essentially took them out of buying oil from Russia, that we’re going to charge you more because you’re dealing with Russia and oil purchases… India was the second largest and getting pretty close to China. China is the largest,” Trump said.
Trump suggested similar action against China — Russia’s largest oil buyer — was being prepared, and such a scenario further prodded the Kremlin: “…When you lose your second largest customer and you’re probably going to lose your first, largest customer, I think that probably has a role.”
Earlier, treasury secretary Scott Bessent separately warned that the 50% tariff rate on India could increase if the Putin talks “don’t go well,” underscoring how New Delhi has become caught in Washington’s pressure campaign against Moscow.
“I could see, if things don’t go well, then sanctions or secondary tariffs could go up,” Bessent told Bloomberg on Wednesday.
Trump imposed tariffs totalling 50% on India earlier this month, including a 25% reciprocal tariff and an additional 25% penalty for Russian oil purchases set to take effect on August 27. Bessent emphasised the tactical nature of the approach, saying “sanctions can go up, they can be loosened. They can have a definitive life. They can go on indefinitely.”
Bessent mentioned targeting Russia’s “shadow fleet of ships around the world” and pressed European allies to impose their own secondary sanctions.
“It’s put up or shut up time. The President is creating his own leverage,” Bessent said.
India has otherwise called the US tariffs “unjustified and unreasonable.” India has been one of the largest buyers of Russian crude since the West imposed sanctions over the invasion of Ukraine in February 2022. India has defended its purchases and criticised the US and the EU for singling it out at a time when other countries buying Russian energy have not faced US penalties.
