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US President Donald Trump has acknowledged that his decision to impose tariffs on India over its purchase of Russian oil has strained ties with New Delhi. "Look, India was their biggest customer. I put a 50 per cent tariff on India because they're buying oil from Russia. That's not an easy thing to do. That's a big deal and it causes a rift with India," Trump said in an interview with 'Fox and Friends' on Friday when asked what clamping down on Russian President Vladimir Putin involves. "But I ...Read More >
India is bracing for potential trade turmoil with the US as proposed 50% tariffs loom. Economist Swaminathan Aiyar suggests the dispute transcends trade, implicating geopolitics due to India's stance on Russian crude oil. Aiyar cautions about the impact on India's defense ties with the US, questioning future arms purchases if treated unfavorably. With just one day to go before the proposed 50% tariffs come into effect, India is bracing for a stormy phase in its trade relations with the United S ...Read More >
Back in April, Trump had announced tariffs of up to 27% on Indian goods, which was later paused. Since then, both sides have been racing to negotiate an agreement, with officials sometimes sounding positive and at other times, measured. "We continue to speak with our Indian counterparts. We've always had very constructive discussions with them," US Trade Representative Jamieson Greer said earlier this week. He also acknowledged that although he had earlier said a deal with India might be "imm ...Read More >
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