The president of the United States, Donald Trump, said Tuesday that the rate charged by India imports would increase by the current rate of 25 percent “very substantial” in the next 24 hours, given the continuous purchases of Russian oil from India.
“India has not been a good commercial partner, because many businesses with us do, but we don’t do business with them. So we decided on 25 pieces, but I think I’m going to increase that very substantially for the next 24 hours, because they are buying Russian oil,” he told CNBC in a televised interview.
“They are feeding the war machine, and if they are going to do that, then I will not be happy,” Trump said, adding that the main point of conflict with India was that his tariffs were too high.
He did not provide a new rate for India.
Trump said last week that he would impose a 25 percent tariff to the goods imported from India and added that the fifth largest economy in the world would also face an unspecified penalty, but did not give details. Later, Trump set up an acute attack and said: “I don’t care what India does with Russia. They can lead to their dead economies together, for what matters to me.”
During the weekend, two sources from the Indian government told Reuters that India will continue buying oil from Russia despite Trump’s threats. In turn, the White House Cabinet Deputy Director Stephen Miller accused India of effectively financing the Russian war in Ukraine buying Moscow oil.
Trump had made the same threat of substantially increasing tariffs a day ago.
In response to the threat, the Ministry of External Affairs of India (MEA) issued a statement claiming that the United States and the European Union “attacked” New Delhi to buy Russian oil after Moscow invaded Ukraine in 2022.
“India began to import from Russia because traditional supplies deviated to Europe after the outbreak of the conflict,” said the statement. “United States at that time actively encouraged such imports by India to strengthen worldwide energy market stability.”
The MEA highlighted in his statement that the same nations that criticized India were participating in trade with Russia, added that the exchanged goods include energy, fertilizers, mining products, chemicals, iron and steel and machinery and transport equipment.
“With regard to the United States, it continues to import the Uranium Hexafluoruro of Russia for its nuclear industry, Palladium for its electric, fertilizers and chemical industry,” added Mea’s statement.
“In this context, India’s orientation is unjustified and irrational. Like any important economy, India will take all necessary measures to safeguard their national interests and economic security.”
India, the third largest oil importer in the world, is the biggest buyer of the Maritime Russian crude, a vital income of income for Russia, since the war in Ukraine for the fourth year.
The American tax in India exceeds those agreed by other nations in the agreements with the Trump administration. For example, the Vietnam rate is established in 20PC and Indonesia to 19 percent, with 15 percent levies on exports of the Japanese and European Union.
Last week, Trump said Washington had reached a commercial agreement with the archirival Pakistan of India that, according to Islamabad, would lead to lower tariffs in its exports.
From the short but deadly conflict from India with Pakistan in May, New Delhi has not been happy with Trump’s closeness with Islamabad and has protested, throwing a shadow on commercial conversations.
Despite the old public exhibitions of Bonhomie between Trump and Indian Prime Minister Narendra Modi, India has adopted a slightly harder position against the United States in recent weeks.
Trump has taken credit repeatedly for the high the fire of India-Pakistan who announced on social networks on May 10, but India disputes his statement that resulted from his speech and commercial threats.
By declaring the dead Indian economy in the water, Trump has put Modi and his party in a link. Until recently, the ruling party Bharatiya Janata was revashing support for the elections of the president of the United States. Their supporters held special sentences and muttered mystical songs for Trump’s victory. There was at least one created temple where a Trump’s sculpted image was worshiped.
But Trump has ignored the luxurious praise and called for energy imports of Russia and its tariff regime as not negotiable.
The Indian government said he was trying to find an answer consulting all the “interested parties”, an euphemism for angry companies whose hopes were the daring capacity to modi to play on both sides of the street.
That seems to have reached a dead end.
