“Trade Relations with Both Countries Will Continue: European Union”; EU Rejects Trump’s Demand to Impose 100% Tariffs on India and China

“Trade Relations with Both Countries Will Continue: European Union”; EU Rejects Trump’s Demand to Impose 100% Tariffs on India and China

Brussels: The European Union has disregarded U.S. President Donald Trump’s demand to impose a 100% tariff on India and China for continuing to import Russian oil. EU spokesperson Olof Gill stated that India and China are important trading partners of the European Union, and this relationship will continue.

Discussions are ongoing between India and the European Union for a possible free trade agreement, and the EU is keen to move the negotiations forward.

Trump had raised the demand for higher tariffs on India and China with the G7 nations, but it has not been considered. This failure of Trump’s move is a significant gain for India.

Trump, who had called Modi a “good friend” and suggested that a trade agreement with India could happen soon, has also noted that escalating a tariff war against India could create a crisis. In an interview with a U.S. media outlet, Trump admitted that his decision to impose a 50% tariff on India had strained relations between the two countries.

India is a major customer of Russian oil, which was the reason for the tariff imposition. Trump acknowledged that the decision was not an easy one, but he made it nonetheless. He also stated that the Russia-Ukraine war is primarily a European problem, more so than a U.S. issue, and alleged that India was purchasing large quantities of Russian oil that could fund the war.

Meanwhile, despite continued harsh criticism of India by Trump and his trade adviser Peter Navarro, India has continued to import significant amounts of Russian oil. In August, India imported Russian oil worth $3.1 billion, placing it just behind China in import volume. China, the largest consumer of Russian oil, spent $3.3 billion last month.

It is noteworthy that India’s Russian oil imports in August increased compared to $2.9 billion in July, while China’s imports decreased from $4.4 billion. The decrease in China’s imports is attributed to cheaper oil being available from Saudi Arabia.


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