U.S. President Donald Trump announced on Tuesday that he would significantly raise tariffs on Indian goods within the next 24 hours.
The reason, he said, is India’s ongoing purchase of Russian oil, which he believes supports Russia during the ongoing conflict.
Accusation: India Profiting from Russian Oil
Trump also claimed that India is buying oil cheaply from Russia and reselling it for profit.
This statement follows his earlier announcement of a 25% tariff on Indian imports on July 31, where he first hinted at penalties for buying Russian oil.
India Hits Back: West Is Being Hypocritical
In response, India has strongly criticised the U.S. and the European Union, accusing them of double standards.
According to the Indian foreign ministry, India’s oil imports are a compulsion driven by global market needs, not profit.
India pointed out that Western countries themselves continue trading with Russia, despite their criticism.
EU Still Trading Broadly with Russia
An official statement from India highlighted that the European Union traded goods worth €67.5 billion ($78 billion) with Russia in 2024.
This included record LNG imports of 16.5 million metric tons, along with other goods like:
Fertilisers
Mining products
Chemicals
Iron and steel
Machinery and transport equipment
India Will Protect Its Economic Interests
India has said it will take all necessary steps to safeguard national interest and economic security. The foreign ministry stressed that the criticism from the West is unfair and selective.
Diplomatic Visits to Continue Despite Tensions
Despite the rising trade tensions, National Security Adviser Ajit Doval is expected to travel to Russia this week. Additionally, Foreign Minister S. Jaishankar is also likely to visit in the coming weeks.
Concerns Over Economic Impact
The growing rift between India and the U.S. has raised concerns over its impact on India’s economy, especially in light of the new and potentially steep tariffs that could affect exports.
