US President Donald Trump has said that its steep tariffs on India over its import of Russian oil have dealt a “big blow” to Moscow’s economy, which he said was not performing well.
“I think Russia has to get back into building their country. It’s a massive country…They have tremendous potential in Russia to do well. They are not doing well. Their economy is not doing well now because it’s been very well disturbed by this,” he said.
“Doesn’t help when the President of the United States tells Their largest or second-largest oil buyer that we’re putting a 50 per cent tariff on you if you buy oil from Russia. That was a big blow,” he added.
He said that no one would be this tough and I haven’t stopped there. “I was gonna do things far bigger than that but I got a call that they wanted to meet and I wanted to know what they wanted to meet about.”
US President Donald Trump has slapped an additional 25 percent tariff on India along with additional tariffs of 25 per cent on Indian imports, taking the total tariffs imposed on Indian goods to 50 percent.
After the announcement of tariffs last week, US President Trump ruled out the possibility of trade talks with India until the issue of tariffs is resolved. When asked whether he expects increased trade negotiations with India after announcing 50 per cent tariffs, Trump said, “No, not until we get it resolved.”
Meanwhile, India is considering announcing tariffs countering the United States’ punishing 50 per cent tariffs on steel, aluminium and their derivatives from India.
