India and the USA will impose tariffs on Russian oil imports

• India is ready to pay a high price for the protection of its farmers.
• The USA has introduced new tariffs of 50% on Indian goods due to the import of Russian oil.
• Trade negotiations between India and the USA have faced setbacks due to disagreements regarding agricultural subsidies.

This is reported by RBC Ukraine, Global Times.

India has taken a decisive stance in response to the new tariffs imposed by the USA under President Donald Trump. The Prime Minister of India Narendra Modi stated that the country is willing to "pay a high price" to avoid pressure from the USA regarding changes to its trade policy.

On September 6, Trump signed an order imposing an additional 25% tariff on Indian goods, indicating that this is a precursor to extending the import of Russian oil. This tariff adds to the existing 25%, previously imposed at the beginning of the month, bringing the total rate to 50% on Indian export goods.

The Ministry of External Affairs of India has already reacted, characterizing the new tariffs as "unfair" and "unacceptable." Meanwhile, India has no intention of changing its position regarding the import of Russian oil, regardless of the pressure.

In the context of trade negotiations with the USA, which have faced setbacks due to disagreements over agricultural subsidies and the import of genetically modified products, Modi emphasized that "supporting farmers is the highest priority." "India will not sacrifice the interests of its farmers," he said.

It has been noted that Indian oil refining companies have already started to reduce purchases of Russian oil, reacting to the tariff pressure from the USA, but the government has not yet issued official directives regarding the suspension of imports.

Currently, amid rising tensions in trade, India is conducting negotiations with other countries, such as the USA, Brazil, and Libya, to diversify its sources of oil supply.

Tags: USA/Russia/Economy/Energy