US India trade tensions have intensified after US President Donald Trump ruled out further trade talks with New Delhi amid a 50 per cent tariff dispute linked to India's continued purchases of Russian oil.
“No, not until we get it resolved,” Trump told reporters in the Oval Office in response to a question on whether he expected talks between the two countries to resume in light of the 50 per cent tariff.
Trump’s remarks followed his earlier warning of “secondary sanctions” against countries over their continued oil trade with Russia.
During a press briefing at White House, Trump was asked why India was being singled out for purchasing Russian oil when many other countries, including China, do the same.
The order claims that these imports, whether direct or via intermediaries, present an "unusual and extraordinary threat" to the United States and justify emergency economic measures.
While the initial 25 per cent tariff came into effect on August 7, the additional levy will take effect in 21 days and apply to all Indian goods entering US ports — with exceptions for items already in transit and certain exempt categories.
Terming the United States' move to impose additional tariffs on India over its oil imports from Russia as "unfair, unjustified and unreasonable," the Ministry of External Affairs (MEA) declared that New Delhi would take "all actions necessary to protect its national interests.
Prime Minister Narendra Modi, meanwhile, said he "won't compromise on farmers' interests and is ready to pay heavy price" hours after the US imposed an extra 25 per cent tariff on Indian exports.
"For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen and dairy farmers. I know we will have to pay a heavy price for it and I am ready for it. India is ready for it," he said."
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