Trump warns of raising tariffs on India

US President Donald Trump hinted at raising tariffs on India if the Russian oil purchases are not curbed. 

Listen to this article

Speaking to reporters aboard Air Force One, Trump also said  “great legislation” would soon be discussed in Congress, allowing his administration to impose tariffs on countries buying Russian oil. “They do trade, and we can raise tariffs on them very quickly,” he said.

The White House shared the audio of the interaction.

“Modi (Prime Minister Narendra Modi) is a good guy. He knew I was not happy, and it was important to make me happy,” news agency Reuters quoted Trump as saying.

“India is now buying substantially less Russian oil,” said Senator Lindsey Graham, who interacted with the media along with Trump.

Trump’s remarks come at a time when the India and US trade deal is still in the works and yet to be finalised.

The US has levied a 50 per cent tariff on India (with 25 per cent being imposed in August as punishment for buying Russian oil).

Experts have called for quick resolution to the tariff issue and finalisation of the trade deal.

Recently, former Reserve Bank of India Governor C Rangarajan said resolving the trade issue was the permanent solution for fixing the current exchange rate situation (falling rupee against the dollar).

 

Latest

A biography on SNN Sankaralinga Iyer

The biography was authored by veteran journalist K Balakumar....

Activity Galore

Godrej Properties bought 47 acres off OMR for a...

When Numbers Tell A Tale…

 Ask the mandarins at TAFE (Trac­tors and Farm Equipment...

Managing Power

With mercury rising, Tamil Nadu’s power demand is hitting...

Newsletter

Don't miss

A biography on SNN Sankaralinga Iyer

The biography was authored by veteran journalist K Balakumar....

Activity Galore

Godrej Properties bought 47 acres off OMR for a...

When Numbers Tell A Tale…

 Ask the mandarins at TAFE (Trac­tors and Farm Equipment...

Managing Power

With mercury rising, Tamil Nadu’s power demand is hitting...

Minister Keerthana Chairs Budget Consultation Meeting

Detailed discussions were held on the Department's ongoing development...

A biography on SNN Sankaralinga Iyer

The biography was authored by veteran journalist K Balakumar. The Tamil translation of the book was also released simultaneously. The Tamil translation was done...

Activity Galore

Godrej Properties bought 47 acres off OMR for a plotted residential project, while Arihant Foundation and Housing acquired a prime Anna Salai site, adjacent...

When Numbers Tell A Tale…

 Ask the mandarins at TAFE (Trac­tors and Farm Equipment Ltd.). They will unhesitatingly vouch for it. Indeed, the flagship company of the Chennai-based Amalgama­tion...