Without a trade deal with Washington, Indian goods are facing a combined US tariff rate of 50%.
President Donald Trump stated on Monday that the United States could raise tariffs on India if New Delhi does not cut Russian oil imports.
Speaking to reporters about US police and trade ties with India, Trump said his administration expected greater support from the Indian government in reducing purchases of Russian oil.
Trump added: “They wanted to make me happy, basically… Prime Minister [Narendra] Modi’s a very good man. He’s a good guy. He knew I was not happy. It was important to make me happy. They do trade, and we can raise tariffs on them very quickly.”
Without a trade deal with Washington, Indian goods are facing a combined US tariff rate of 50%. A 25% so-called reciprocal duty was imposed on August 7, followed by an additional 25% punitive levy on August 27.
The punitive tariffs were introduced as part of Trump’s pressure campaign against countries purchasing discounted oil from Russia amid Moscow’s war on Ukraine.
On November 10, Trump said that Washington will bring down the tariffs imposed on India “at some point” and claimed that New Delhi has substantially reduced its purchase of Russian oil.
