India issues response against Trump's threat to raise tariffs, points out double standards

 

Highlights Donald Trump posted on his Truth Social account, accusing India of buying a massive amount of oil from Russia, and selling it in the open market for huge profits In its response, India issued a strong statement calling out the West (US and EU) for its double standards when they themselves buy oil and other critical products from Russia India also cleared its stance that it will continue to protect its interests and economic security, stating that its energy strategy is "compelled by global market conditions"

India called out the US and the EU (European Union), as US President Donald Trump threatened to "substantially" raise tariffs on Indian goods due to its continued oil imports from Russia. In a statement issued by the Ministry of External Affairs (MEA) of India, it pointed out the targeting as "unjustified and unreasonable."  

MEA defended India's energy strategy, stating that purchasing crude oil from Russia is a "necessity compelled by global market conditions", not meant to endorse Moscow politically. 

MEA also reflected upon the fact that the US and EU themselves continue to trade with Russia, including energy and other critical commodities, even though they oppose the latter on the Ukraine conflict. With its statement, MEA affirmed, "India will take all necessary measures to safeguard its national interests and economic security." 

 

 

It issued a response hours after Trump accused India of "buying massive amounts of Russian oil and selling it in the open market for big profits", and threatened to sanction it by raising tariffs.

It comes under the imposed order of reciprocal tariffs signed by US President Donald Trump on August 1. It charges India with 25% tariffs on Indian goods from August 7. Trump has long been vocal about a "penalty" for Russian oil and imports. Trump had earlier said that India and Russia could "take their dead economies together", after which India had to assert that it is the fastest-growing economy in the world. 

Mentioning the "West's double standards", the MEA highlighted that the EU's trade with Russia was significantly higher than India's. EU imported Russian LNG at a whopping 16.5 million tonnes. The statement further said that the US continues to import Uranium, palladium, and fertilizers from Russia. 

In the meantime, Russian imports to India rose from 0.2% (pre-war) to 35% in the past few months. On this, the MEA clarified that the hike was due to the traditional suppliers in the Middle East redirecting exports to Europe post the war. 

India has, however, reaffirmed that it will stay committed to the ongoing trade negotiations with the US. The next round of trade talks will take place between August 25-29 in New Delhi. In the past five rounds, there has not been any agreement yet.  

 

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