WASHINGTON: The United States has warned India of even higher tariffs if upcoming talks between US President Donald Trump and Russian President Vladimir Putin fail.
US Treasury Secretary Scott Bassett said Washington has already imposed an extra 25% tariff on Indian goods, and this rate could go even higher. He warned that if India continues to buy petroleum products from Russia, another 25% tariff could be added in the coming days, pushing the total rate above 50%.
Trump is already upset with the Modi government’s policies, and India’s recent actions have further angered him. Bassett made it clear that the future of these tariffs depends on the outcome of the Trump-Putin meeting, set to take place tomorrow (Friday) in Alaska.
This meeting will be the first direct encounter between the US and Russian presidents since 2021. If the talks fail, India could face one of the highest tariff rates in its trade history with the United States.
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