US Treasury Secretary Scott Bessent has indicated that the United States may impose additional secondary tariffs on India, depending on the results of the upcoming summit between President Donald Trump and Russian President Vladimir Putin in Alaska.
Bessent said in a Bloomberg TV interview on Wednesday that the US has already placed secondary tariffs on India due to its purchase of Russian oil. However, if the meeting between the two world leaders does not go as hoped, the sanctions or tariffs could increase.
Earlier this month, the US government levied a 25% tariff penalty on India, in addition to an existing 25% tariff, targeting India’s continued purchase of oil and weapons from Russia.
The talks between Trump and Putin are seen as crucial in resolving ongoing global tensions, and the US is using economic measures to influence India’s stance regarding Russia amid these geopolitical developments.
