U.S. Tariffs against India Because of Russian Oil Imports
U.S. President Donald Trump has levied heavy tariffs against India. The reason being that India continued to import oil from Russia, even after warnings from the U.S. In reply, India said the interests of its farmers, fishermen, and dairy industry workers are the priority.
Trump recently spoke again regarding the issue of tariffs. He indicated that no trade negotiations will be conducted with India until the tariff conflict has been resolved.
Trump Declines Trade Talks for the Time Being
India is attempting to solve the issue of tariffs via negotiation. But President Trump, in a press interaction at the Oval Office, explained that trade discussions won't proceed until the situation is resolved.
U.S. State Department Presents an Alternative Perspective
Contrary to Trump's stance, the U.S. State Department had a different view. Spokesman Tommy Pigott said in a statement to journalists that India is still a strategic partner. Despite tensions over tariffs now, he affirmed the U.S. intends to remain full diplomatic engagement with India.
Trump's Tariff Action Follows Oil Trade Warnings
Trump has earlier advised India not to purchase Russian oil. After India refused to listen to those threats, the U.S. retaliated by imposing tariffs. The tariff was at 25% and is now also at 25%. This new tariff of 50% will take effect starting from the 27th of this month.
India Responds with Firm Stand
India responded aggressively to the tariff increase. Indian Prime Minister Narendra Modi reaffirmed that India will always stand behind its domestic industries. He expressed that he is prepared to face the consequences if necessary to save farmers and others.
Tags Cloud
