Trump Renews Trade Threats Against India Over Russian Oil Purchases
According to the Economic Desk of Webangah News Agency, US President Donald Trump reiterated his dissatisfaction with India’s trade relations with Russia during a press briefing on Sunday. “Modi is a good man. He knew I wasn’t happy, and pleasing me was important,” Trump stated, while simultaneously threatening swift tariff increases against India.
The President responded to questions about India’s Russian oil imports by asserting, “They are trading, and we can raise tariffs against them very quickly.” This comes after the US doubled import duties on Indian goods to 50% last year as punishment for New Delhi’s substantial oil purchases from Moscow.
Despite these heavy tariffs, India’s exports to the US actually increased in November. Indian officials, encouraged by improving trade data, have adopted a firmer stance against US trade demands, showing limited flexibility in areas like agricultural imports while data indicates declining Indian oil purchases from Russia.
Informed sources told Reuters last week that India now requires refineries to disclose weekly oil purchase data from Russia and the US, with expectations that Russian crude imports will fall below one million barrels per day as New Delhi seeks a trade agreement with Washington.
Prime Minister Modi has held at least three phone conversations with Trump since the tariffs were imposed, but negotiations have remained inconclusive. Last month, Indian Commerce Minister Rajesh Agrawal met with US Deputy Trade Representative Rick Switzer in Delhi to discuss bilateral trade relations.
