US President Announces Possible Tariff Hike
US President Donald Trump has demonstrated that the United States can increase tariffs on India beyond 25 percent, as previously announced. On Monday, he used social media to voice his frustration with India's continued purchase of oil from Russia. Trump averred that India is gaining from selling the oil in global markets and faulted India for not thinking of the cost of lives in the war in Ukraine. He added that the tariff rate can be escalated quite extensively.
Misgivings Expressed by White House Officials
The senior official of the White House, Stephen Miller, also accused India. According to him, India's immigration practices are injuring American workers. He believes that India's immigration strategy is unfair to America.
India Responds to U.S. and EU Backlash
The Indian government responded aggressively on Monday to United States and European condemnation of its Russian oil imports. India questioned other countries why they import Russian commodities such as uranium hexafluoride, a commodity in the nuclear industry, and palladium, used in electric vehicles and fertilizers.
India Defends Oil Imports from Russia
India's Ministry of External Affairs stated that India is buying Russian oil to meet its domestic energy needs. It emphasized the point that due to the Ukraine situation and global market trends, India has to make decisions that guarantee stability for its economy. The Ministry explained that India will continue making decisions in its national interest.
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