U.S. President Donald Trump said on Jan. 4 that his administration could increase tariffs on imports from India if the country keeps buying Russian oil, as the United States seeks to push Russia to end the war in Ukraine.
“Modi is a very good man. He’s a good guy. He knew I was not happy, and it was important to make me happy. They do trade, and we can raise tariffs on them very quickly,” the president told reporters.
Sen. Lindsey Graham (R-S.C.), who was traveling with the president, said India is “now buying substantially less Russian oil” as a result of Trump’s tariff hikes.
Graham said he hopes that the United States will enact a bill that would levy tariffs of up to 500 percent on countries continuing to buy Russian oil amid the ongoing war in Ukraine.
“If you’re buying cheap Russian oil, [you’re] keeping [Russian President Vladimir] Putin’s war machine going. We’re trying to give the ability to make that a hard choice by tariffs,” he said.
India currently faces a total U.S. tariff rate of 50 percent, including a 25 percent tariff that Trump imposed in August because of the country’s purchases of Russian crude.
“We reviewed the progress in our bilateral relations and discussed regional and international developments. India and the U.S. will continue to work together for global peace, stability and prosperity,” Modi said.
India has become a major market for Russian oil as Moscow faces sanctions and export controls from Western nations aimed at pressuring it to end its war in Ukraine.
India’s annual crude oil imports from Russia were about $2.3 billion in 2021, but surged to $25.5 billion in 2022 after Russia launched its war against Ukraine.
