Washington earlier imposed 50% tariffs on New Delhi over purchases of Russian oil
The US is pressuring EU nations to impose additional tariffs on India over its continued oil trade with Russia that would be similar to Washington’s 50% levies on Indian goods, sources have told Axios and India Today.
According to Axios, the US wants European countries to ramp up economic pressure on Russia, including “a complete cessation of all oil and gas purchases” from the country and introduce secondary tariffs not only on India, but also on China.
Axios also noted that the White House is “losing patience” with EU leaders who they see as pushing for Ukraine to reject any territorial concessions to Russia.
”The Europeans don’t get to prolong this war and backdoor unreasonable expectations, while also expecting America to bear the cost,” a top White House official told the outlet. “If Europe wants to escalate this war, that will be up to them. But they will be hopelessly snatching defeat from the jaws of victory.”
An India Today report on Sunday echoed the Axios claim, adding that Washington wants the EU to mirror its measures targeting India, including a halt to imports of oil and gas.
Bloc officials, however, are yet to comment on the matter. As of 2024, the EU is India’s second-largest trading partner, accounting for trade in goods worth €120 billion ($140 billion), or 11.5% of India’s total trade.
The US first imposed a 25% tariff on India in early August after trade talks collapsed, before announcing an additional 25% tariff tied to India’s continued purchases of Russian oil. US President Donald Trump has claimed that India’s imports of Russian oil and weapons are indirectly fueling the Ukraine conflict.
In response, Indian Trade Minister Piyush Goyal said New Delhi would not “bow down” to Washington’s pressure and would instead focus on finding new markets. Moscow, meanwhile, has denounced US tariffs on India, stressing that sovereign nations have every right to choose their trading partners.
As the tariff dispute heated up, leaders from India, China, Russia, and other states met at the Shanghai Cooperation Organization (SCO) summit in Tianjin.
Read the full article here