Blitz Bureau
NEW DELHI: US President Donald Trump has ruled out negotiations with India on the tariffs that will rise to 50 per cent later this month. “No, not until we get it resolved”, he said when a reporter asked him if he expected more negotiations following the announcement of the 50 per cent tariff that is to take effect on August 27.
It was not clear from the curt reply if he meant the resolution of the Ukraine War, since the additional 25 per cent punitive tariff he announced for buying Russian oil is linked to it, or a settlement of issues underlying the 25 per cent tariff he imposed on India last week in his general trade war. The punitive tariff appeared to aim at bringing economic pressure on Moscow to agree to a ceasefire, as India is the second-biggest customer for its oil.
Trump was also ambiguous when a reporter asked him if he would end the 25 per cent punitive tariff if there was an agreement with Moscow on ending the war. He said, “We’ll determine that later, but right now, they’re paying a 50 per cent tariff”. Trump had put a 50-day deadline for Russia to agree to a ceasefire or get hit with more sanctions, at which time the punitive measures known as secondary tariffs would be imposed on all its oil customers.
He later shortened it to 12 days, ending Friday, but came out with the 25 per cent punitive tariff singling out India on Wednesday, although it won’t take effect till August 27. India said it was “extremely unfortunate” that the US was imposing “additional tariffs on India for actions that several other countries are also taking in their own national interest”.
