After EU, US To Push G7 To Impose Higher Tariffs On India, China Over Russian Oil Purchase | India News
The United States is preparing to put pressure on G7 countries to sharpen higher tariffs to India and China for Russian oil imports. The movement is part of President Donald Trump’s strategy for Russian’s war in Ukraine by targeting energy revenues.
Trump calls for tariff levels of 50 percent to 100 percent of goods under Russian oil purchases from two Asian countries. G7 Finance Ministers will discuss the offer during a video meeting on Friday. The United States argues that these measures are necessary to put pressure on meaningful peace talks on Moscow and to interrupt a major flow of income that maintains military operations.
“China and India Russian oil purchases finance Putin’s war machine and prolong the meaningless killing of the people of Ukraine.” He said. Authorized, tariffs will be canceled on the day of the end of the war, “he added.
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According to reports, the plan aims to promote a united Western stance. Trump administration officials stated that they were ready to take action, but only European allies are involved in efforts. An official stated that the US is “ready to go right now ,, but called for Europe to“ take steps ”.
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Referring to four people informed about the plans, Financial Times said that this pressure was followed by Trump’s request for up to 100% similar tariffs in the European Union’s European Union Beijing and New Delhi.
EU rejects tariff demands
However, the EU remains careful. Authorities in Brussels rejected such comprehensive trade penalties on economic risks and possible retaliation from China and India, both of which are key trade partners. Instead, the EU supports the acceleration of its limit of 2027 to gradually eliminate Russian energy imports as well as more strict sanctions.
The last diplomatic change comes in a tense moment. Trump, especially after a high -profile summit in Alaska, was disappointed with the lack of progress in mediation with Russian President Vladimir Putin. In the meantime, Russia recently launched the largest drone and missile attack on Ukraine.
Trump is expected to talk with Putin “at the beginning of this week or at the beginning of next week ,, in a statement to journalists, increasing pressure said he hoped that Russia would force Russia to the negotiation table.
Despite the tariff dispute, US-India trade negotiations continue
The United States increased its tariffs for some Indian imports for retaliation with the new Delhi for retaliation with Moscow. Despite this, Trump said, “India and the United States continue to negotiates to address trade barriers between our two nations.
David O’Sullivan, the sanction chief of the European Union, led the block delegation in recent Washington debates, which included senior US Treasury officials.
In a relevant development, Mexico announced that it would increase tariffs on cars imported from China and several other Asian countries to protect local affairs from 20 percent to 50 percent. Mexican Economy Minister Marcelo Ebrarard confirmed the movement as part of a wider response to changing global trade dynamics.
Trump’s push for tariffs is also in the midst of legal uncertainty. In May, a US Commercial Court decided that the president’s tariffs exceed any authority granted according to the current laws. The decision was approved by a Federal Court of Appeal in August, and the case is now going to the Supreme Court in early November. Tariffs will remain in fact waiting for the decision.
US Treasury Secretary Scott Bessent accepted financial risk, saying that a court defeat could lead to recycling for tens of billions of dollars. Iz We must pay back to about half of the tariffs that will be terrible for the Treasury, ”he said.
India-EU Free Trade Agreement continues
Meanwhile, the European Union’s rejection of Trump’s tariff proposal over India is seen as positive by trade analysts. Experts say that Europe does not adopt Washington’s aggressive stance against the new Delhi. More importantly, the movement also points out that the negotiations with a Free Trade Agreement (FTA) between India and the EU remain on the road.
According to PTI, the 13th round of FTA talks began on Monday, September 8th. European Trade Commissioner Maroš ščovič is scheduled to visit India on September 12th to review progress with the Minister of Trade and Industry of India, Puussh Goyal. The two sides aim to conclude the agreement by the end of the year.
