Synopsis : US President Donald Trump hinted that Washington may hold off on imposing additional secondary tariffs on India over its Russian oil imports. The statement comes as India grapples with a steep 50% tariff burden and calls the move “unfair and unreasonable.”
In a significant development, US President Donald Trump suggested on Friday that the United States may reconsider imposing secondary tariffs on countries buying Russian oil, potentially sparing India from another round of penalties.
Speaking about the issue, Trump remarked, “Well, he (Putin) lost an oil client, which is India… If I did a secondary sanction, it would be very devastating. If I have to do it, I’ll do it. Maybe I won’t have to do it.”
India is already facing steep tariffs from Washington. A 25% duty on Indian imports took effect on August 7, followed by an additional 25% levy on Indian oil imports from Russia—bringing the total burden on Indian exports to 50%. The second phase of duties is set to roll out on August 27.
New Delhi has strongly opposed the decision, with the Ministry of External Affairs branding it “unfair, unjustified, and unreasonable,” while underscoring that India’s energy needs are tied to national security. Officials also pointed out that European nations continue to import higher volumes of Russian oil.
The tariff hikes extend beyond India, targeting nearly 70 countries under the executive order “Further Modifying the Reciprocal Tariff Rates.” Laos and Myanmar face 40%, Pakistan 19%, Sri Lanka 20%, the UK 10%, and Japan 15%.
Meanwhile, the much-anticipated Alaska summit between Trump and Russian President Vladimir Putin ended without a breakthrough on the Ukraine war. Trump stated, “There’s no deal until there’s a deal,” while Treasury Secretary Scott Bessent warned that secondary tariffs on India could rise if negotiations falter.
As the situation evolves, investors and policymakers alike are closely watching Washington’s next steps, which could redefine global trade alignments and India’s energy security strategy.
Disclaimer : This article is for informational purposes only. It does not constitute financial, investment, or legal advice. Readers are advised to consult professionals before making decisions based on this content.
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