Donald Trump’s latest remarks on retaliatory tariffs for countries buying Russian oil come after his high-stakes meeting with Vladimir Putin in Alaska.
US President Donald Trump on Saturday said he may have to think of retaliatory tariffs on countries buying Russian oil in two to three weeks, but doesn’t have to do so right now,
His remarks came shortly after he concluded his high-stakes meeting with Russian counterpart Vladimir Putin in Alaska, and briefly addressed the media alongside him.
“Well, because of what happened today, I think I don’t have to think about that (tariffs),” Trump told Fox News‘ Sean Hannity in an interview after the meeting. “Now, I may have to think about it in two weeks or three weeks or something, but we don’t have to think about that right now. I think, you know, the meeting went very well,”
Trump’s remarks came in response to a question on the oil trade between India and Russia, and possible tariffs on China. However, Trump did not specify if he was talking about retaliatory tariffs or additional tariffs on countries, specifically for buying Russian oil.
Trump had announced last month that he would impose secondary sanctions on countries doing trade with Moscow, as he threatened 100 per cent tariffs on Russia, giving it 50 days to agree to a deal to end the Ukraine war.
“We’re very, very unhappy with them. And we’re going to be doing very severe tariffs if we don’t have a deal in 50 days. Tariffs at about 100 per cent, you’d call them secondary tariffs,” Trump had said.
In an interview with Fox News before his meeting with Putin in Alaska, Trump had said that Moscow “lost an oil client – India”, adding that if he imposed secondary sanctions, it would be “devastating” for Russia. “…If I have to do it, I’ll do it, may be I won’t have to do it,” Trump said.
Weeks after this announcement, he announced 25 per cent retaliatory tariffs on India, which he doubled days later, citing New Delhi’s purchase of oil from Russia. Half of the announced tariffs for India have taken effect, and the remaining are set to be imposed on August 27.
Trump’s latest remarks on retaliatory tariffs follow US treasury secretary Scott Bessent’s threat that the country could increase the secondary tariffs on India if “things don’t go well” in the meeting between the President and Russia’s Vladimir Putin in Alaska.
In an interview with Bloomberg TV, Bessent said, “We’ve put secondary tariffs on Indians for buying Russian oil. And I could if things don’t go well, then sanctions or secondary tariffs could go up.”
Bessent had earlier said that India was being “a bit recalcitrant” in the ongoing trade negotiations with the US.
India had earlier clarified that the relationship it shares with the US is broad, with trade just being one part of it. Before that, the Ministry of External Affairs had urged that the relationship between countries not be seen through the prism of a third one.
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