The United States has warned of potential new tariffs on India, escalating economic pressure over New Delhi’s continued purchase of Russian oil. U.S.
Treasury Secretary Scott Bessent stated that the U.S. could increase the existing secondary tariffs if upcoming talks between President Donald Trump and Russian President Vladimir Putin “don’t go well.”
A Growing Standoff
The warning comes ahead of a crucial meeting between Trump and Putin in Alaska, aimed at ending the war in Ukraine. Bessent, in an interview with Bloomberg TV, said, “We’ve put secondary tariffs on Indians for buying Russian oil… if things don’t go well, then sanctions or secondary tariffs could go up.”
This is not the first time the Trump administration has targeted India with economic measures. On August 7, the U.S. imposed an additional 25% tariff on Indian goods, bringing the total tariff rate to 50%. Trump had previously criticized India for “fueling the war machine” by purchasing Russian oil.
India’s Firm Stance
India has consistently defended its position, with Prime Minister Narendra Modi stating that the country would not compromise on the interests of its farmers, even if it meant economic consequences. The Ministry of External Affairs (MEA) has called the tariffs “unfair, unjustified and unreasonable,” adding that India’s oil imports are based on market factors and are essential for the energy security of its 1.4 billion people. The MEA also highlighted that other countries criticizing India were themselves engaging in trade with Russia.
In a recent phone call with Ukrainian President Volodymyr Zelensky, PM Modi reiterated India’s consistent position on the need for an “early and peaceful resolution of the conflict.”
