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Washington: The United States wants the European Union and Group of Seven (G7) nations to impose more tariffs on India, China, and countries that are continuing to purchase Russian oil.
Believing that it’s Russia’s energy trade with India and China that is what funding Putin’s war, the US, during a meeting of G7 Finance Ministers, discussed penalising Russia with further sanctions and punishing nations that are continuing their energy trade with Moscow.
However, this development has come after US President Donald Trump admitted that putting tariffs on India was not an easy thing to do because it’s a big deal and has created a rift with New Delhi.
Donald Trump Imposed 50 per cent Tariffs on India
US President Donald Trump has imposed 50 per cent tariffs on India for purchasing Russian oil. Out of this 50 per cent, 25 per cent is reciprocal tariff and another 25 is penalty for continuing buying Russian energy.
However, India after being hit by 50 per cent tariffs, did not retaliate with trade taxes and is holding constructive discussions with the United States government to negotiate and close a Bilateral Trade Agreement (BTA) without compromising its national interest.
Federal Court In US Directs Tariffs are Illegal
Recently, a federal court in United States had termed Donald Trump’s trade tariffs as illegal mentioning that the trade duties had the potential of creating between nations and affect US’ foreign policy.
Donald Trump’s Ambassador Pick For India Sergio Gor’s Big Remark on Trade Deal
On Thursday, Donald Trump’s ambassador pick for India, Sergio Gor, during a Senate hearing said that a trade deal with India was not that far away hinting that it’s a matter of weeks before the two nations may close a deal.
Gor also complimented Donald Trump-PM Modi friendship and termed India as a strategic partner whose trajectory will shape the region and beyond.
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