New Delhi: External Affairs Minister Dr. S Jaishankar offered an assessment of US President Donald Trump’s foreign tariff policy. Characterising it as a very public and often unpredictable approach followed by the American President, the Indian minister’s comments come amidst escalating tensions between New Delhi and Washington. With Trump’s administration imposing a 50 percent tariff on Indian goods, India continues its purchase of Russian oil.
Furthermore, Jaishankar has indicated the issue of India purchasing the Russian oil had not been discussed prior to Trump’s announcement. Thus, caused perplexity within the Indian government. The Indian foreign minister also noted that the US has previously encouraged India to stabilise the global energy market while pointing out that major economies like European nations and China are much larger importers of Russian energy.
The imposition of a 50% tariff, a combination of a 25% reciprocal tariff and an additional 25% penalty for Russian oil imports can be described as a double blow to India’s economy and puts a significant portion of its exports to the US at risk. Thereby, defending staunchly, Dr. Jaishankar stated that India’s move to procure energy from Russia serves both national interests and global efforts to stabilise oil prices. He maintained that despite the recent trade disputes, negotiations between India and US are ongoing, “it’s not like there’s a kutti”.
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