US Eyes Higher Tariffs on Indian Goods Over Russia Oil Ties
The Biden administration is reportedly considering escalating tariffs on Indian imports, escalating tensions between the two nations. This move is primarily attributed to India’s continued purchase of discounted Russian oil, despite Western sanctions.
The White House is said to be exploring various options to exert pressure on New Delhi, with increased tariffs emerging as a key consideration. Discussions are ongoing, and the exact nature and scale of any potential tariff hikes remain unclear.
This development echoes similar threats made during the Trump administration. Former President Trump had also voiced strong criticism of India’s trade practices and hinted at significant tariff increases.
While the current administration hasn’t explicitly confirmed the plans, the potential for increased tariffs poses a significant challenge to India’s economic ties with the US. The impact on bilateral trade and the broader geopolitical landscape warrants close monitoring. This could significantly impact Indian exports, particularly in sectors like textiles and pharmaceuticals, potentially affecting millions of jobs.
