On Monday (August 4), US President Donald Trump accused India of profiting from the Russian-Ukrainian conflict by making a discounted Russian oil on global markets, promising to save a steep increase in tariffs on Indian goods.
Trump wrote in the contribution on Trump: “India not only buys a huge amount of Russian oil, but then for most of the purchased oils that sell it on the open market for big profits. They don’t care how many people in Ukraine are killed by the Russian war.
Trump, however, did not specify the exact rate of tariffs he intends to save.
Meanwhile, the current 10 percent of the US tariff on Indian goods increases to 25 percent from Thursday. The US, which outlined a number of obligations that the US plans to impose on multiple countries, announced last week that India would be subject to 25 percent of tariffs.
Last week, Trump launched a scary attack on India and Russia and claimed that these two nations could “take off their dead economies together.” The note caused a sharp reaction from India, which claimed that it remains the fastest growing main economy in the world. In response to Trump’s remark indicating the Indian economy as “dead”, Prime Minister Narendra Modi claimed that India is on the way to become the third largest economy in the world. “There is an atmosphere of global instability. All countries focus on their individual interests. India is to become the third largest economy in the world, and therefore India will have to remain in alertity in terms of its economic interests,” PM Modi said.
Trump previously stated The fact that the US operates a massive business deficit with India and claims that, despite being considered a friend, India has long imposed extremely high tariffs-“-and enforces some of the” more strenuous and unpleasant “non-monetary trading barriers around the world.
He also criticized India for buying most of his military equipment from Russia and was one of the largest Russian energy buyers, along with China at a time when the world urges Moscow to stop the war in Ukraine. “All things aren’t good!” noted.
The increased pressure of Trump on India is followed by its warnings against new sanctions against Moscow, unless progress towards a peace agreement with Kiev on Friday.
Meanwhile, Moscow is preparing for interviews with a special ambassador Trump Steve Witkoff, who expects to meet President Vladimir Putin this week.
This is an evolving story. Please check the updates
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