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US warns of more tariffs on India if Trump-Putin talks in Alaska ‘don’t go well'
Donald Trump has already doubled India's tariffs to 50 per cent by imposing an additional 25 per cent to the existing 25 for New Delhi's Russian oil purchase.
US Treasury Secretary Scott Bessent on Wednesday issued a warning that Washington could increase the secondary tariffs on India if "things don't go well" between President Donald Trump and his Russian counterpart, Vladimir Putin, during the meeting this weekend.
Trump and Putin will hold talks in Alaska on August 15, Friday, in Alaska in a bid to end the war in Ukraine, which was triggered by Russia's full-scale invasion of the country in February 2022.
In an interview with Bloomberg TV, Bessent said, "We've put secondary tariffs on Indians for buying Russian oil. And I could if things don't go well, then sanctions or secondary tariffs could go up."
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Initially, Trump had imposed a 25 per cent tariff on Indian goods. However, on August 7, the US President slapped an additional 25 per cent tariff on the country for its oil purchase from Russia, taking the total levy rate to 50 per cent.
Trump had also said that India is buying Russian oil and "fueling the war machine", adding that he is not going to be happy if the country does that.
Earlier on Wednesday, Trump also warned Russia of "very severe" consequences if it does not stop the ongoing war in Ukraine. He told reporters that Russia will face actions if it does not agree to a halt after his meeting with Putin in Alaska.
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"President Trump is meeting with President Putin, and the Europeans are in the wings, carping about how he should do it, what he should do. The Europeans need to join in these sanctions. The Europeans need to be willing to put on these secondary sanctions," Bessent told the media network.
Bessent said that the President is creating his own leverage, adding that the US needs the "Europeans to come in and help create more leverage".
Earlier this week, Prime Minister Narendra Modi spoke with Ukrainian President Volodymyr Zelensky, wherein the latter called for India to support the peace effort to end the war.
In the phone call with Zelensky, PM Modi stated that India made its stance clear in the war. "I conveyed India’s consistent position on the need for an early and peaceful resolution of the conflict. India remains committed to making every possible contribution in this regard, as well as to further strengthening bilateral ties with Ukraine," said Modi in a post on X.
PM Modi had also responded to Trump's tariffs, saying that India would not compromise on the interest of its farmers, even if it comes at the cost of economic consequences.
India's External Affairs Ministry had termed Trump's doubled tariffs as "unfair, unjustified and unreasonable."
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The MEA said that India has already made its position clear 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".
India had also pointed out in its earlier statement that the countries criticising New Delhi over its Russian purchases are themselves indulging in trade with Russia.
