Trump Holds Off on China Over Russian Oil, Targets India With 50% Tariff in Escalating Trade Move
Former US President Donald Trump has warned of new sanctions against Russia and secondary penalties for countries that continue to buy Russian crude. He stressed that unless meaningful steps are taken to end the Ukraine war, nations importing Russian oil could face strong consequences. India and China remain the top buyers of Russian crude.
Despite recently imposing an additional 25% tariff on Indian exports – pushing the total rate to 50% – Trump has stopped short of introducing similar measures against China. When asked in a Fox News interview after his Alaska summit with Vladimir Putin if Beijing could be next, he said there was no need to consider it “right now”, but left the door open for future action.
India Faces 50% Duty While Trump tariffs on Russian oil buyers Leave China Untouched for Now
Meanwhile, Trump and Chinese President Xi Jinping are engaged in talks to negotiate a trade agreement aimed at lowering import duties and reducing tensions between the two largest economies. However, analysts warn that China may soon become a major target if the US decides to widen its punitive campaign.
Trump previously claimed the India tariffs were successful in influencing Moscow to seek talks with Washington, arguing that losing its “second largest customer” for oil had pushed Russia back to the negotiating table.
He suggested that India’s decision to continue buying Russian oil forced him to take action, saying that such steps “probably had a role” in pushing Russia to contact the US.
ALSO READ| Trump Warns Russia of ‘Very Severe Consequences’ Over Ukraine War Ahead of Alaska Summit
However, India has strongly rejected these claims. On Thursday, the Indian government confirmed there is “no pause” in imports of Russian crude and that all purchases are based purely on economic considerations. Indian Oil Corporation (IOC) also said that its imports remained unchanged despite Washington’s stance.
India’s Ministry of External Affairs condemned the tariff move, calling it “unjustified and unreasonable”, and said the government will take “all necessary measures” to protect national and economic interests.
Trump argues that India’s oil trade with Russia is “fuelling” the war effort, but the Indian side insists its buying decisions are sovereign and will not be dictated by external pressure.
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