The US Vice President, JD Vance, clarified the rationale behind imposing tariffs on India, linking it to the ongoing conflict in Ukraine. The tariffs, according to Vance, were implemented by President Trump to influence Russia’s actions by constricting its financial resources.
The US has placed a 50% tariff on India, effective August 27th, with a 25% penalty component. This penalty is directly related to India’s oil imports from Russia, which has created trade friction between the nations.
India has maintained its stance on importing Russian oil, justifying it as a measure taken in the national interest. After the invasion of Ukraine in February 2022, Western countries avoided buying Russian oil and imposed sanctions, which led India to purchase Russian oil at reduced prices.