{"id":1550,"date":"2025-08-15T09:36:48","date_gmt":"2025-08-15T09:36:48","guid":{"rendered":"https:\/\/thefridaynews.com\/?p=1550"},"modified":"2025-08-15T09:37:18","modified_gmt":"2025-08-15T09:37:18","slug":"us-warns-of-increased-secondary-tariffs-on-india-ahead-of-trump-putin-meeting","status":"publish","type":"post","link":"https:\/\/thefridaynews.com\/?p=1550","title":{"rendered":"US Warns of Increased Secondary Tariffs on India Ahead of Trump-Putin Meeting"},"content":{"rendered":"\n

US Treasury Secretary Scott Bessent has warned that Washington could increase secondary tariffs on India, the BBC<\/em> reported on Thursday.<\/p>\n\n\n\n

He said the decision would depend on the outcome of President Donald Trump\u2019s meeting<\/a> with Russian counterpart Vladimir Putin in Alaska on Friday.<\/p>\n\n\n\n

\u201cWe\u2019ve put secondary tariffs on Indians for buying Russian oil. And I could see, If things don\u2019t go well, then sanctions or secondary tariffs could go up,\u201d Bessent said in an interview to Bloomberg TV<\/em> on Wednesday.<\/p>\n\n\n\n

Earlier this month, Trump imposed<\/a> a 25 per cent penalty on India in addition to 25pc tariffs for buying<\/a> oil and weapons from Russia. The US has been trying to mediate a ceasefire between Russia and Ukraine, and on Wednesday, Trump warned of \u201csevere consequences\u201d if Moscow did not agree to a peace deal.<\/p>\n\n\n\n

\n

Russian oil made up 35-40pc of India\u2019s oil imports in 2024, up from 3pc in 2021<\/p>\n<\/blockquote>\n\n\n\n

Trump and Putin are set to meet in Anchorage on Friday to discuss how to end the war in Ukraine.<\/p>\n\n\n\n

\u201cPresident Trump is meeting with President Putin, and the Europeans are in the wings carping about how he should do it, what he should do. The Europeans need to join us in these sanctions. The Europeans need to be willing to put on these secondary sanctions,\u201d Bessent said.<\/p>\n\n\n\n

Delhi\u2019s increased imports of cheap Russian crude since the Ukraine war have strained India-US relations and disrupted ongoing trade talks with Washington. Russian oil made up 35pc to 40pc of India\u2019s oil imports in 2024 \u2014 up from 3pc in 2021.<\/p>\n\n\n\n

Delhi has defended its purchases of Russian oil, arguing that as a major energy importer, it must buy the cheapest available crude to protect millions of poor Indians from rising costs.<\/p>\n\n\n\n

Bessent\u2019s comments come after he called India a \u201cbit recalcitrant\u201d on trade negotiations in an interview with Fox Business<\/em> on Tuesday. Trump says his tariffs are part of his administration\u2019s plan to boost the US\u2019 economy and make global trade fairer.<\/p>\n\n\n\n

He has repeatedly called India a tariff abuser and is keen to trim a $45bn (\u00a333bn) trade deficit with Asia\u2019s third largest economy. Trade negotiations between Delhi and Washington have been under way for several months, and are set to renew with US negotiators expected to arrive in India on August 25.<\/p>\n\n\n\n

But experts say India\u2019s refusal to reduce duties on agriculture and dairy products has been a major thorn in the negotiations.<\/p>\n\n\n\n

Trump\u2019s new 50pc tariff rate on India is set to come into effect on August 27, which some experts have said is akin to an embargo on trade between the two countries. It makes India the most heavily taxed US trading partner in Asia and is expected to severely hamper its exports focused industries like textiles and jewellery, and could drag India\u2019s growth down by as much as half a percent.<\/p>\n","protected":false},"excerpt":{"rendered":"

US Treasury Secretary Scott Bessent has warned that Washington could increase secondary tariffs on India, the BBC reported on Thursday.<\/p>\n","protected":false},"author":1,"featured_media":1551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,4,9],"tags":[],"class_list":["post-1550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-newsbeat","category-world"],"yoast_head":"\nUS Warns of Increased Secondary Tariffs on India Ahead of Trump-Putin Meeting - The Friday News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefridaynews.com\/us-warns-of-increased-secondary-tariffs-on-india-ahead-of-trump-putin-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Warns of Increased Secondary Tariffs on India Ahead of Trump-Putin Meeting - 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