US Threatens More Tariffs on India if Trump-Putin Talks Falter
Treasury Secretary Scott Bessent warns the US may increase secondary sanctions on India over Russian oil purchases, depending on the outcome of Trump’s meeting with Putin in Alaska.
US Treasury Secretary Scott Bessent said Washington could impose additional secondary tariffs on India if President Donald Trump’s talks with Vladimir Putin in Alaska fail to secure a Russia-Ukraine peace deal.
In a Bloomberg TV interview, Bessent noted: "We’ve already applied secondary tariffs on India for buying Russian oil. If things don’t go well, sanctions or secondary tariffs could increase." Trump earlier imposed a 25% penalty on India atop existing 25% tariffs over its purchases of Russian oil and weapons.
The US has sought to mediate a ceasefire in Ukraine and warned of "severe consequences" if Moscow rejects a peace agreement. Trump and Putin are due to meet in Anchorage to discuss ending the war.
Bessent also urged European allies to support tougher measures: "The Europeans need to join us in these sanctions. They need to be willing to impose secondary sanctions."
India’s imports of discounted Russian crude have surged since the Ukraine conflict, rising to 35–40% of its oil purchases in 2024, up from 3% in 2021. New Delhi defends the buys as necessary to shield millions of poor citizens from higher energy costs.
Relations between Washington and New Delhi have been strained by these imports and stalled trade talks. Trump has labeled India a tariff abuser and aims to narrow a $45 billion trade deficit. Negotiations are set to resume when US officials visit India on August 25.
India has resisted cutting duties on agricultural and dairy products, a key sticking point. Meanwhile, Trump’s plan to raise tariffs on Indian goods to 50% from August 27 has been likened to an embargo and could drag India’s economic growth down by up to 0.5 percentage points.
US officials warn that failure to secure a peace agreement in Alaska may prompt Washington to increase sanctions on India over its Russian oil imports.
This topic was reported by BBC.
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