Trump says will impose more tariffs on India, hints action will not stop here

WASHINGTON: The US presently imposes a 50 percent tax on Indian goods, including an additional 25 percent tariff. The US administration is giving indications that this will increase further. Through this, the US is making big strategies against Russia, not India.

It is reported that additional tariffs will be imposed on countries that buy Russian oil. It is estimated that the US and the European Union will impose such additional taxes, which will crush the Russian market.

An online summit of the BRICS countries is going to be held today as part of a united move against the Trump administration's retaliatory tariffs. The BRICS virtual meeting was called by Brazilian President Lula da Silva. External Affairs Minister Dr S Jaishankar will represent India. The organization is likely to issue a joint statement. Brazil has not made the names of other leaders participating in the summit public.

The Trump administration is imposing tariffs on Brazilian products from 10% to 50%. It has also imposed a 50% tariff on India for importing oil from Russia. Both countries have taken a tough stance against this.

US Treasury Secretary Scott Besant had said yesterday that the US is ready to increase tariffs on Russia and hopes that its European Union friends will follow suit.