The American president Donald Trump wants India to stop buying Russian oil and is placing an extra 25 percent import duty on all Indian goods. Trump had been threatening this measure for some time and signed a decree on Wednesday to implement it.
Trump’s patience is running out with Russia, which refuses to start peace negotiations with Ukraine. Therefore, he is now targeting an important trading partner, as no country buys as much Russian oil as India.
The Asian country is already facing a 25 percent duty on all its goods this week, which is now being doubled. The extra duty is to take effect in 21 days and applies to all imported goods from India.
Americans who buy Indian products will then have to pay 25 percent and later even 50 percent tax on them. Good for the American treasury, but disastrous for India’s competitive position.
Ties between the US and India have also frayed because talks about a trade deal have failed. Since then, Trump has been threatening heavier import duties.
With this measure against Russia’s important trading partner, Trump wants to put pressure on Moscow to end the war with Ukraine.
India calls criticism ‘unjustified and unreasonable’
“India not only buys huge quantities, but also sells a large part on the open market for considerable profits. They don’t care how many people in Ukraine are killed by the Russian war machine,” Trump wrote on Truth Social on Monday.
A spokesperson for the Indian Ministry of Foreign Affairs has called Trump’s criticism an “attack” on the country that is “unjustified and unreasonable.”
India also pointed out that the US and EU are still trading with Russia, despite their criticism of Putin’s regime.
American envoy Steve Witkoff had meeting with Putin today
The duty announcement follows the meeting between Russian President Vladimir Putin and American envoy Steve Witkoff on Wednesday.
Witkoff flew to Moscow in the hope of achieving a breakthrough in the war. Putin’s government has called the meeting useful and constructive. News agency Bloomberg reports that the talks have not yielded a breakthrough.
Trump’s deadline to Russia to conclude a ceasefire with Ukraine expires in two days. Otherwise, new sanctions would follow.