The US Treasury Secretary has warned that the Trump administration could impose additional secondary tariffs on India, with the final decision hinging on the outcome of a meeting between President Donald Trump and Russian President Vladimir Putin in Alaska on Friday.
Earlier, the US imposed a 25% penalty on Indian imports and an additional 25% tariff on purchases of oil and weapons from Russia, bringing the total levy to 50%. Washington has accused New Delhi of indirectly funding Moscow’s war in Ukraine. India has rejected the charges, calling the tariffs “unfair, unjustified, and unreasonable,” and defending its Russian oil imports as critical for national energy security.
According to the BBC, Treasury Secretary Scott Bessent told Bloomberg TV, “We’ve put secondary tariffs on Indians for buying Russian oil. And I could see, if things don’t go well, then sanctions or secondary tariffs could go up.”
Also Read: India scours the globe for more oil ahead of Trump-Putin summit
In a separate interview with Fox News, Bessent described India as “a bit recalcitrant” in trade negotiations. Talks between the two countries stalled earlier this month, with Trump suspending discussions over India’s Russian trade and other reported differences.
Meanwhile, refiners in India, the world’s top importer of seaborne Russian crude, are scouring the globe for alternative supplies, hedging their bets ahead of a summit between the US and Russian leaders.
US negotiators are expected to arrive in India on 25 August, just two days before the higher tariffs are scheduled to take effect. Experts believe India’s firm position on protecting its agriculture and dairy markets will remain a sticking point.
Also Read: Why the Trump-Putin Alaska meeting may not ease tensions between India, US, and Russia
Trump and Putin are set to meet in Anchorage to discuss ending the war in Ukraine, which has entered its fourth year. Trump has described the summit as a “feel-out meeting” to gauge Moscow’s willingness to agree to a ceasefire, warning of “severe consequences” if no progress is made.
He has previously suggested that a peace deal could involve “some swapping of territories,” an idea Ukraine has rejected on constitutional grounds.
Ukrainian President Volodymyr Zelenskyy has insisted there will be no peace deal without Kyiv’s participation and reaffirmed that Ukraine will not cede territory to Russia.
European officials have also voiced concern that a one-on-one meeting between Trump and Putin, without Ukrainian involvement, could lead to an agreement favouring Russian interests.
Earlier, the US imposed a 25% penalty on Indian imports and an additional 25% tariff on purchases of oil and weapons from Russia, bringing the total levy to 50%. Washington has accused New Delhi of indirectly funding Moscow’s war in Ukraine. India has rejected the charges, calling the tariffs “unfair, unjustified, and unreasonable,” and defending its Russian oil imports as critical for national energy security.
According to the BBC, Treasury Secretary Scott Bessent told Bloomberg TV, “We’ve put secondary tariffs on Indians for buying Russian oil. And I could see, if things don’t go well, then sanctions or secondary tariffs could go up.”
Also Read: India scours the globe for more oil ahead of Trump-Putin summit
In a separate interview with Fox News, Bessent described India as “a bit recalcitrant” in trade negotiations. Talks between the two countries stalled earlier this month, with Trump suspending discussions over India’s Russian trade and other reported differences.
Meanwhile, refiners in India, the world’s top importer of seaborne Russian crude, are scouring the globe for alternative supplies, hedging their bets ahead of a summit between the US and Russian leaders.
US negotiators are expected to arrive in India on 25 August, just two days before the higher tariffs are scheduled to take effect. Experts believe India’s firm position on protecting its agriculture and dairy markets will remain a sticking point.
Also Read: Why the Trump-Putin Alaska meeting may not ease tensions between India, US, and Russia
Trump and Putin are set to meet in Anchorage to discuss ending the war in Ukraine, which has entered its fourth year. Trump has described the summit as a “feel-out meeting” to gauge Moscow’s willingness to agree to a ceasefire, warning of “severe consequences” if no progress is made.
He has previously suggested that a peace deal could involve “some swapping of territories,” an idea Ukraine has rejected on constitutional grounds.
Ukrainian President Volodymyr Zelenskyy has insisted there will be no peace deal without Kyiv’s participation and reaffirmed that Ukraine will not cede territory to Russia.
European officials have also voiced concern that a one-on-one meeting between Trump and Putin, without Ukrainian involvement, could lead to an agreement favouring Russian interests.
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