Israel Prime Minister Benjamin Netanyahu on Thursday said it will be in the interest of both India and the United States (US) to resolve the tariff issue, reports said.
Israel PM Netanyahu said he would like to come to India soon, according to PTI news agency.
The Israeli prime minister, in an interaction with a group of visiting journalists from India, added that there is huge scope to expand India-Israel cooperation including in areas of intelligence sharing, countering terrorism.
The statement comes after Netanyahu met with India’s ambassador to Israel, JP Singh, to discuss strengthening bilateral cooperation between the two nations.
"Prime Minister Benjamin Netanyahu met today, in his Jerusalem office, with Indian Ambassador to Israel J.P. Singh. The Prime Minister and the Ambassador discussed the expansion of bilateral cooperation, especially on security and economic issues," Israeli PMO said in a post on X on Thursday.
US President Donald Trump on Wednesday doubled India tariffs to 50 per cent citing Russian oil purchase. Trump imposed 50 per cent tariff on India in two phases, a 25 per cent levy was first announced on July 30 and the additional 25 per cent announced on Wednesday.
Trump signed an executive order - Addressing Threats to the US by the Government of the Russian Federation - imposing the additional tariff over and above the 25 per cent levy which comes into effect from August 7.
{{/usCountry}}Trump signed an executive order - Addressing Threats to the US by the Government of the Russian Federation - imposing the additional tariff over and above the 25 per cent levy which comes into effect from August 7.
{{/usCountry}}"The ad valorem duty imposed...shall be in addition to any other duties, fees, taxes, exactions, and charges applicable to such imports...," the order posted in the White House website read.
While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days or August 27.
India fired back at Trump's additional tariff move and reiterated that these actions are “unfair, unjustified and unreasonable.”
Here's what India said in response
The United States has in recent days targeted India’s oil imports from Russia.
2. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India.
3. It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest.
4. We reiterate that these actions are unfair, unjustified and unreasonable.
5. India will take all actions necessary to protect its national interests.
India buys about 88 per cent of its crude oil, which is converted into fuels like petrol and diesel, from overseas. Russian oil made up for hardly 0.2 per cent of all crude oil that India imported till 2021, according to data mentioned in a PTI news agency report.