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US President Donald Trump believes his tariffs on India for purchasing Russian oil was a “big blow” to Moscow’s economy as a 50 per cent duty has been put on Delhi, referring to it on Monday as Russia’s “largest or second largest oil buyer”.
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Addressing a press conference at the White House on Monday, Donald Trump claimed that Russia’s economy has been severely hit by the ongoing global pressures due to the imposition of US tariffs on several countries. Follow India tariff news live updates
Donald Trump last week doubled India tariffs to 50 per cent citing Russian oil purchase. Trump imposed 50 per cent tariff on India in two phases, a 25 per cent levy was first announced on July 30 and the additional 25 per cent announced on Wednesday, August 7.
Trump signed an executive order – Addressing Threats to the US by the Government of the Russian Federation – imposing the additional tariff over and above the 25 per cent levy which came into effect from August 7.
‘Russia economy not doing well’, says Trump
Donald Trump said at the press conference at White House on Monday that he thinks “Russia has to get back into building their country”, adding that the country has ”tremendous potential” to do well.
Trump further suggested that the Russian economy is not doing well because it’s been “very well disturbed” by tariffs.
“It’s a massive country… I think they have 11 time zones can you believe it… from the standpoint of land they are by far the largest… They have tremendous potential in Russia to do well. They’re not doing well. Their economy is not doing well right now because it’s been very well disturbed by this,” Donald Trump said.
In what appeared to be a reference to India, Trump said, “Doesn’t help when the President of the United States tells their largest or second-largest oil buyer that we’re putting a 50% tariff on you if you buy oil from Russia. That was a big blow.”
India has termed Trump’s tariff move as “unfair, unjustified and unreasonable actions.”
Donald Trump is scheduled to meet Russian President Vladimir Putin in Alaska on Friday, August 15, in a bid to make Moscow reach a ceasefire with Ukraine after over three years of invasion.
The Trump-Putin summit will take place in Alaska and will be Russia president’s first trip to the United States since 2015.
“I thought it was very respectful that the President of Russia is coming to our country, as opposed to us going to his country or even a third-party place. But I think we’ll have constructive conversations,” Trump said on Monday, adding that he would speak with European leaders after the meeting.
Trump also mentioned his plans to engage with Ukrainian President Volodymyr Zelensky.
“The next meeting will be with Zelenskyy and Putin, or Zelenskyy and Putin and me. I’ll be there if they need but I want to have a meeting set up between the two leaders,” he said.
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