US President Donald Trump on Wednesday imposed 25 percent additional tariff on India, White House said.
India has faced pressure from the West to distance itself from Moscow since Russia invaded Ukraine in early 2022. New Delhi has resisted, citing its longstanding ties with Russia and economic needs.
Trump had already in July announced 25% tariffs on Indian imports, and U.S. officials have cited a range of geopolitical issues standing in the way of a U.S.-India trade accord.
It should be noted that India is the biggest buyer of seaborne crude from Russia, importing about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago, according to data provided to Reuters by trade sources.
On August 4, in a social media post, Trump wrote, “India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine.”
In response, a spokesperson for India’s foreign ministry said that India will “take all necessary measures to safeguard its national interests and economic security.”
“The targeting of India is unjustified and unreasonable,” the spokesperson added.
The new tariffs on India could complicate its goal of doubling bilateral trade with the U.S. to $500 billion by 2030.
