‘That was a big blow’: Trump says 50% US tariff on India will hit Russian economy hard
Trump says Russia’s economy has been severely hit by the ongoing global pressures due to the imposition of US tariffs on several countries
Trump says Russia’s economy has been severely hit by the ongoing global pressures due to the imposition of US tariffs on several countries
Trump says Russia’s economy has been severely hit by the ongoing global pressures due to the imposition of US tariffs on several countries
Trump says Russia’s economy has been severely hit by the ongoing global pressures due to the imposition of US tariffs on several countries
US President Donald Trump claimed on Monday that the 50 per cent tariff he has imposed on Indian imports is a “big blow” to the Russian economy.
Addressing a press conference at the White House, Trump termed India as Russia’s “largest or second largest oil buyer”.
The President said Moscow’s economy been severely hit by the ongoing global pressures due to the imposition of US tariffs on several countries. He, however, added that Moscow has tremendous potential to rebuild their economy.
Without mentioning India’s name, Trump 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% tariff on you if you buy oil from Russia. That was a big blow."
Earlier this month, Trump signed an executive order imposing an additional 25 per cent tariff on India, taking the total levy on Indian goods to the US to 50 per cent.
In the order, Trump cited matters of national security and foreign policy concerns, as well as other relevant trade laws, for the increase, claiming that India's imports of Russian oil, directly or indirectly, pose an "unusual and extraordinary threat" to the United States.
India has termed the US move “unfair, unjustified and unreasonable” and said New Delhi will take all actions necessary to protect its national interests.