President Donald Trump has actually shown that the United States might not enforce secondary tariffs on nations continuing to obtain Russian petroleum.
There were apprehensions that extra secondary tariffs would have struck India in case the United States chose to implement them.
“Well, he (Russian President Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot…And if I did what’s called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I’ll do it. Maybe I won’t have to do it,” Trump stated on Friday.
The United States president made the remarks in an interview with Fox News aboard Air Force One en path to Alaska for a high-stakes top conference with Putin. The conference concluded with no arrangement on ending the Russia-Ukraine war.
On Wednesday, United States Treasury Secretary Scott Bessent had actually stated if “things don’t go well” in between Trump and Putin at the top conference, then secondary sanctions on India for acquiring Russian oil might increase.
In an interview with Bloomberg, Bessent stated, “I think everyone has been frustrated with Russian President Putin. We expected that he would come to the table in a more fulsome way. It looks like he may be ready to negotiate.”
