Amidst Donald Trump's 50% tariff on India, PM Modi to speak to Brazil President Lula; meeting with China's Xi planned at SCO
Prime Minister
Narendra Modi
is scheduled to talk to Brazil's President Luiz Inacio Lula da Silva on Thursday and plans to visit China in August for the first time since 2018, amid deteriorating relations with the United States.
Brazilian President Luiz Inacio Lula da Silva intends to talk to PM Modi on Thursday to discuss US President Donald Trump's trade tariffs, officials from both Brasilia and New Delhi, told Bloomberg.
Modi is also set to participate in the Shanghai Cooperation Organisation summit, a Beijing-led regional security alliance, where he will hold separate talks with President Xi Jinping. The SCO summit is planned for August 31 and September 1 in Tianjin.
Trump vs BRICS
Modi's discussions with Lula and his visit to China, whilst previously scheduled, have gained additional importance following Trump's implementation of 50% tariffs on India, imposed due to the trade deal stalemate and India's and Russian oil imports. India maintains its stance on continuing Russian crude oil purchases and has termed the US tariffs as "unjustified."
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Explainer: Donald Trump's 50% tariffs - will India budge on Russia crude oil trade?
As founding members of BRICS, India, Brazil, China and Russia have faced criticism from Trump, who views the group as opposing US interests.
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Brazil has also been subjected to similar 50% tariffs by the US administration.
The most recent meeting between Xi and Modi occurred in October at the
BRICS summit
in Kazan. Relations between the nations have been improving since the 2020 clash between India and China.
Currently, India's National Security Adviser Ajit Doval is in Moscow, whilst External Affairs Minister Subrahmanyam Jaishankar is scheduled to visit. Later this year, Modi is expected to welcome Russian President Vladimir Putin to India.
Trump pressures India to stop oil trade with Russia
Trump has demanded that India stop buying discounted Russian oil, suggesting it supports Russia's military operations in the Ukraine conflict. His stance is influenced by his aims to decrease the US trade imbalance with India and advance negotiations with Russian President Putin towards resolving the Ukrainian situation.
Also Read |
Donald Trump's 25% additional tariff on India: What are 'secondary tariffs' and how do they differ from 'secondary sanctions'? Explained
India, being the third-largest oil consumer globally, has substantially increased its Russian crude oil purchases following the Russia-Ukraine conflict, primarily due to the considerable price advantages offered.
The scenario creates a delicate situation for PM Modi, who needs to simultaneously control India's oil import expenses whilst maintaining balanced diplomatic relations with both Russia and the US.
When questioned about targeting India specifically for additional sanctions despite China being Russia's largest crude oil customer, Trump provided an ambiguous response.
"It may happen. I don't know, I can't tell you yet.
But we did it with India. We are doing it probably with a couple of others, one of them could be China," he stated, indicating potential future actions against other nations.
Incidentally, even as Trump expresses displeasure over India's oil dealings with Russia, both the European Union and the United States maintain substantial trade relationships with Moscow.
Also Read |
Donald Trump hits India with highest 50% tariff for Russia crude oil buys - how will it impact Indian economy? Explained
Their continued purchases encompass liquefied natural gas, enriched uranium, and various commodities, amounting to transactions worth billions in euros and dollars.
India on its part has said that it will continue to protect its interests. Soon after Trump signed the executive order on an additional 25% tariff on India, the ministry of external affairs said, 'It is extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest. We reiterate that these actions are unfair, unjustified and unreasonable.India will take all actions necessary to protect its national interests.
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