US Imposes 50% Tariff on India. America challenges India's policies on oil purchases from Russia. Trump administration issued a warning. India refuses to change its energy policy.
Trump Tariff: Tensions are escalating in trade relations between the United States and India. The US has decided to impose a 50 percent tariff on Indian goods, which has soured relations between the two countries. White House economic advisor Kevin Hassett has said that if India does not change its policies, President Trump will not soften his stance either.
America's 50 Percent Tariff: What is the Reason?
The United States has decided to impose a 50 percent tariff on Indian goods, which includes a pre-existing 25 percent tariff with an additional 25 percent levied. This step has been taken due to India's purchase of oil from Russia, which the US views as supporting Russia in the Ukraine war. White House economic advisor Kevin Hassett said that this is a complex relationship and the US has had to take tough measures due to India's inflexibility.
India's Reaction: 'We Will Not Change Our Policies'
India has described the US move as unfair and unacceptable. India's External Affairs Minister S. Jaishankar said that if the US has a problem with India buying oil from Russia, it should stop buying refined oil from India. India has also made it clear that it will not make any changes to its energy policy.
Warning from Trump's Economic Advisor
White House economic advisor Kevin Hassett said that if India does not change its policies, President Trump will not soften his stance either. He said that this is a complex relationship and part of it is related to our effort to put pressure on Russia so that a peace agreement can be reached regarding Ukraine-Russia and millions of lives can be saved.
India's Strategy
India has planned to increase trade with 40 countries, including the UK, Japan, South Korea, Germany, France, and Australia. In addition, the Indian government has also decided to provide financial assistance and credit relief to exporters.
