The Modi government’s foreign policy has failed miserably, after which the US has threatened to impose more tariffs on India.
According to a global news agency, US Treasury Secretary Scott Besant has warned India that if President Donald Trump’s talks with his Russian counterpart Vladimir Putin fail, more economic sanctions and tariffs will be imposed.
Scott Besant revealed in a media interview that an additional 25 percent tariff has already been imposed on India, and another 25 percent tariff is being implemented soon due to buying oil from Russia.
He added that the total tariff on India has thus reached 50 percent. If President Trump’s talks with Putin fail, these tariffs on India will be increased further.
This statement by the US Secretary of State has created a stir in India’s trade markets and has raised questions about the Modi government’s economic strategy.
It should be noted that important and historic talks between the US and Russian presidents will be held in Alaska, in which the war in Ukraine and economic sanctions imposed on Russia will be discussed.
This meeting will be the first direct summit since 2021. The US president has announced that he wants Ukrainian President Volodymyr Zelensky to also join it, provided that both sides agree.
If this meeting fails, then one of the biggest victims could be India, which buys hydrogen from Russia but also seeks to become a strategic ally of the US.
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