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The US Treasury Secretary has warned Scott Bessent that Washington increased the secondary tariffs in India.
The decision would depend on the result of President Donald Trump, Alaska Vladimir Putin made with Russian Vladimir Putin.
“We put the secondary rates in the Indians to buy Russian oil. And I could see if things go well, then the penalties or secondary rates could go up,” Bessent said Interview Bloomberg TV Wednesday.
Months earlier, Trump imposed 25% penalty India in addition to purchasing Russian oil and weapons in addition to 25% rates.
The US has tried to mediate a fire interception between Russia and Ukraine, and on Wednesday, Trump warns “serious consequences” if Moscow did not agree with the peace deal.
Trump and Putin are Establish Friday anchor to discuss how to end the war in Ukraine.
“The President Trump encounters President Putin, how to do it, what should he do. Europeans must join us in these sanctions. The Europeans must be willing to put these secondary sanctions,” Bessents said.
Delhi’s major raw Russian raw imports Since Ukrainian war squeezed India-U.S. relationships and interrupts continuous trade talks with Washington.
Russian oil rose by 35% and 40% in India’s oil imports in 2024, 2021 from 3%.
Delhi has defended Russian oil shopping, arguing as important energy importers, must purchase the cheapest raw available that rising costs of millions of poor Indians.
Bessent’s comments called India a “recalcitrant” in trade negotiations Interview with Fox business Tuesday.
Trump says his rates are part of its administration plan to promote the US economy and make a global trade fair.
India repeatedly calls India to Abuserra and the third largest Asian economy cuts a $ 45 million ($ 33 million) trade deficit.
Trade negotiations between Delhi and Washington will be upgraded with the negotiators expected to reach India on 25 August.
However, experts say that refusing to reduce duties of agriculture and dairy products in India has been an important thorn in negotiations.
Trump The new 50% new rate in India put into force on August 27, which has been said that some experts have been similar to an embart of trade between the two countries.
It converts India asian maximum trading partner. It is expected to interfere with the hard exports industries, like fabrics and jewelry, and can be half a percentage of Indian growth.
