Washington: Donald Trump has already imposed 25% additional tariffs on India for purchasing Russian oil, and accusing New Delhi of indirectly funding Moscow’s war in Ukraine.
Now, the US Treasury Secretary has said that the Trump administration could slap further sanctions on India, depending on the outcome of Friday’s meeting between President Trump and Vladimir Putin on the Russia-Ukraine conflict, which has been ongoing for three-and-a-half years.
According to US Treasury Secretary Scott Bessent, India could face additional secondary sanctions if talks in Alaska fail to yield positive results.
“We’ve put secondary tariffs on Indians for buying Russian oil. And I could see if things don’t go well, then sanctions or secondary tariffs could go up,” Bessent told Bloomberg TV.
India and the US have been engaged in trade negotiations for months, but talks hit a roadblock earlier this month as Trump announced a suspension of the discussions over New Delhi’s Russian trade policies and other concerns.
Bessent told Fox News that was “a bit recalcitrant” in trade negotiations.
US tariffs on Indian imports currently stand at 50 per cent, including the ‘punishment’ for importing Russian oil.
The Indian government has called the tariffs “unfair, unjustified, and unreasonable,” and defended the country’s policy of oil imports as a matter of national energy security.
Trade negotiations could resume with US negotiators expected to arrive in India on August 25, just days before the 50 per cent tariff on Indian goods is set to take effect.
Also Read: Trump Warns Russia of “Very Severe Consequences” If Ukraine War Not Stopped
