Trump rules out tariff talks with India as 50 per cent hike looms
New York: US President Donald Trump has ruled out negotiations with India on the tariffs that will rise to 50 per cent later this month.
“No, not until we get it resolved”, he said when a reporter asked him if he expected more negotiations following the announcement of the 50 per cent tariff that is to take effect on August 27.
It was not clear from the curt reply if he meant the resolution of the Ukraine War, since the additional 25 per cent punitive tariff he announced on Wednesday for buying Russian oil is linked to it, or a settlement of issues underlying the 25 per cent tariff he imposed on India last week in his general trade war.
The punitive tariff appeared to aim at bringing economic pressure on Moscow to agree to a ceasefire, as India is the second-biggest customer for its oil.
He was also ambiguous on Wednesday when a reporter asked him if he would end the 25 per cent punitive tariff if there was an agreement with Moscow on ending the war.
He said, “We’ll determine that later, but right now, they’re paying a 50 per cent tariff”.
Trump had put a 50-day deadline for Russia to agree to a ceasefire or get hit with more sanctions, at which time the punitive measures known as secondary tariffs would be imposed on all its oil customers.
He later shortened it to 12 days, ending Friday, but came out with the 25 per cent punitive tariff singling out India on Wednesday, although it won’t take effect till August 27.
India said it was “extremely unfortunate” that the US was imposing “additional tariffs on India for actions that several other countries are also taking in their own national interest”.
It vowed to “take all actions necessary to protect its national interests”.
Trump and Indian officials had been very optimistic about reaching a trade deal, as recently as last month, saying it was imminent.
However, the negotiations apparently collapsed, according to reports, over US demands for access to agriculture and dairy markets in India.
About Friday’s deadline for Russia sanctions and the secondary tariffs, Trump said, “It’s going to be up to him (Putin). We’re going to see what he has to say”.
He added that he was “very disappointed” with Putin, who has defied Trump’s attempts to end the Ukraine War.
But Trump and the Kremlin have indicated that there was progress in their negotiations.
Trump’s Special Envoy Steve Witcoff held three hours of talks with Russia’s President Vladimir Putin on Wednesday.
“We had some very good talks with President Putin”, Trump said, adding that there was “a very good chance” that they were nearing the end of the road to peace.
The Kremlin said on Thursday that Putin and Trump planned to meet soon, and media reported quoting, US officials, that it could take place next week.
Trump did not confirm the timing, but said, “They (Russian leaders) would like to meet with me, and I’ll do whatever I can to stop the killing” in the Ukraine War.