From DW News.
US President Trump has threatened to raise tariffs on goods from India, because the country started importing a lot of oil from Russia since the Ukraine war started. New Delhi has called this attack unjustified and is ready to defend its economic interests. So can Trump’s tariffs force India into submission? India is the biggest buyer of seaborne crude from Russia, importing about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago, according to data provided to Reuters by trade sources. India began importing oil from Russia because traditional supplies were diverted to Europe after the outbreak of the Ukraine conflict, an Indian spokesperson said, calling it a "necessity compelled by global market situation." Trump has said that from Friday, he will impose new sanctions on Russia as well as on countries that buy its energy exports, unless Moscow takes steps to end its three and a half year war with Ukraine. Russian President Vladimir Putin has shown no public sign of altering his stance despite the deadline.
The spokesperson also noted the West’s, particularly the European Union’s, bilateral trade with Russia: "It is revealing that the very nations criticizing India are themselves indulging in trade with Russia."
India has faced pressure from the West to distance itself from Moscow since Russia invaded Ukraine in early 2022. New Delhi has resisted, citing its longstanding ties with Russia and economic needs. Trump had already in July announced 25% tariffs on Indian imports, and U.S. officials have cited a range of geopolitical issues standing in the way of a U.S.-India trade accord. Trump has also cast the wider BRICS group of developing nations as hostile to the United States. Those nations have dismissed his accusation, saying the group promotes the interests of its members and of developing countries at large.
#TradeWar #Tariffs #India
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