ibn sultan
New Delhi, January 5:U.S. President Donald Trump has warned that Washington could raise tariffs on Indian goods if New Delhi does not curb its purchases of Russian oil. Speaking to reporters aboard Air Force One, Trump said the United States could act “very quickly” on tariffs if its demands are not met.
“Modi is a good guy. He knew I was not happy, and it was important to make me happy,” Trump said, adding that trade measures remain on the table in response to India’s Russian oil imports.
India’s commerce ministry did not immediately comment. Last year, the United States doubled import tariffs on Indian goods to 50% over India’s heavy buying of Russian crude. Despite the higher duties, India’s exports to the U.S. rose sharply in November, prompting Indian officials to maintain a firm stance against U.S. trade demands, particularly on agricultural imports.
Data indicates India’s oil purchases from Russia have declined. Sources told Reuters that India has begun seeking weekly disclosures from refiners on Russian and U.S. oil purchases and expects Russian crude imports to fall below 1 million barrels per day as it seeks to finalize a trade deal with Washington.
Prime Minister Narendra Modi has spoken with Trump at least three times since the tariffs were imposed, though talks remain inconclusive. Separately, India’s Commerce Secretary Rajesh Agrawal met U.S. Deputy Trade Representative Rick Switzer last month in New Delhi to discuss bilateral trade and economic ties.
