Trump warns of higher tariffs on India over Russian oil purchases
- The US doubled import tariffs on Indian goods to 50% last year as punishment for its heavy buying of Russian oil
NEW DELHI: The United States could raise tariffs on India if New Delhi doesn’t meet Washington’s demand to curb purchases of Russian oil, President Donald Trump told reporters aboard Air Force One. “Modi is a good guy.
He knew I was not happy, and it was important to make me happy,“ Trump said on Sunday.
India’s Russian oil binge to end in December as sanctions bite, sources say
“They do trade, and we can raise tariffs on them very quickly,” Trump said in response to a question on India’s Russian oil purchases. India’s commerce ministry did not immediately respond to a request for comment.
The US doubled import tariffs on Indian goods to 50% last year as punishment for its heavy buying of Russian oil.
Decline in India’s Russian oil imports may be temporary, Kremlin says
Despite the hefty tariffs, India’s exports to the US leapt in November.
Encouraged by the improved trade data, Indian officials have maintained a firm stance against US trade demands, signalling limited flexibility in areas such as agricultural imports, while data shows India’s oil purchases from Russia have declined.
India is asking refiners for weekly disclosures of Russian and US oil purchases, people familiar with the matter told Reuters last week, adding that they expect Russian crude imports to dip below 1 million barrels per day as New Delhi seeks to clinch a trade deal with Washington.
India asks refiners for weekly Russian oil import data as it seeks US trade deal, sources say
Modi has spoken to Trump at least three times over the phone since he imposed tariffs, but the discussions remain inconclusive.
India’s Commerce Secretary Rajesh Agrawal met US Deputy Trade Representative Rick Switzer to discuss bilateral trade and economic ties last month in Delhi.
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