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Gulf Insider
16 hours ago
- Gulf Insider
Trump Calls India, Russia "Dead Economies" Tariff Standoff
President Trump first announced his tariff 'Liberation Day' in April, and the measures are now set to take effect tomorrow. While countries like Europe, Japan, and South Korea have capitulated to the Trump administration's mounting pressure and signed trade deals, others, such as India, remain holdouts. In response, Trump lashed out on Truth Social media early Thursday morning, labeling India a 'dead economy' and claiming the U.S. does 'very little business' with the country. 'I don't care what India does with Russia. They can take their dead economies down together, for all I care,' Trump wrote on his social media platform. He continued, 'We have done very little business with India, their Tariffs are too high, among the highest in the World,' adding, 'Likewise, Russia and the USA do almost no business together. Let's keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he's still President, to watch his words. He's entering very dangerous territory!' On Wednesday morning, Trump fired off another Truth Social post about India, indicating New Delhi faces 25% tariff plus penalties starting on Friday. He criticized India's close ties to Moscow during the Ukraine war, describing them as 'not good,' and emphasized that the U.S. has done relatively little business with India. It remains unclear whether U.S. and Indian trade negotiators can reach a deal before the deadline. However, Trump's comments on Truth Social suggest the talks are not going well. A statement from the Indian government yesterday pointed out that a trade deal with the U.S. must be 'mutually beneficial' and protect its farmers and small businesses. According to analysts at Mumbai-headquartered Axis Bank, 25% tariffs on Indian goods would have a $10 billion impact on exporters. Société Générale analyst Kunal Kundu said the tariffs could 'dampen domestic sentiment' and 'expectation of maintaining a relative tariff advantage over competitors in labour-intensive exports has been undermined.' He noted that 'disadvantage is not excessively severe.' 'Trump's causing a lot of trouble for Modi,' said Derek Grossman, a former U.S. intelligence official who is now a professor of international relations at the University of Southern California, who Bloomberg quoted. 'A lot of damage has been done today, more than at any time I can remember,' Grossman added. 'I'm not saying that the relationship is going to collapse or anything like that. It'll persist, but I feel like India will be far more circumspect in dealing with America from this point forward.' So much for all those signs of progress in April when Vice President JD Vance visited India. Vance at the time called a US-India relationship a 'win-win partnership' and sought stronger ties with New Delhi in energy and defense trade. Important to note: India and Russia are part of the BRICS system, challenging the US status quo. Also read: Declassified Documents Confirm Hillary Clinton Plan To Smear Trump, Use FBI
Daily Tribune
21 hours ago
- Daily Tribune
Trump Calls India and Russia 'Dead Economies,' Announces New Tariffs on New Delhi
US President Donald Trump has sparked fresh controversy after calling India and Russia 'dead economies' while confirming that a new round of tariffs on New Delhi will take effect this week. In a late-night post on Truth Social, Trump said, 'I don't care what India does with Russia. They can take their dead economies down together, for all I care.' The president criticized India for its high import duties, describing them as 'among the highest in the world.' He also noted that the US does 'very little business' with both India and Russia, adding that he prefers to 'keep it that way.' Trump announced that a 25% tariff on Indian goods will begin on Friday, along with an unspecified 'penalty' over India's continued purchase of Russian weapons and energy. He did not clarify what the penalty would involve. The remarks come as Trump continues to pressure Russia to end its three-year war in Ukraine. Earlier this week, he warned that the US could impose more sanctions on Moscow within 10 days and hinted at 'secondary tariffs' on countries that continue to trade with Russia, such as India and China. Russian officials dismissed Trump's threats. Former President Dmitry Medvedev, now a close ally of Vladimir Putin, mocked the US leader's ultimatum, calling it 'theatrical.' Trump hit back, warning Medvedev to 'watch his words,' saying he was entering 'very dangerous territory.' India, now the world's most populous country, has been in trade talks with the Trump administration for months. However, negotiations have stalled due to US demands for greater market access, particularly in India's agriculture and dairy sectors. The new tariff is slightly lower than an earlier proposal in April but remains higher than those levied on other Asian nations with trade agreements with Washington. With tensions rising, the move risks straining relations between Washington and New Delhi, one of the US's key partners in Asia.
Daily Tribune
a day ago
- Daily Tribune
Trump says imposing 25% tariff on Indian imports
US President Donald Trump said yesterday that imports from India will face 25% tariffs, while also announcing an unspecified 'penalty' for New Delhi's purchases of Russian weapons and energy. The measures will kick in on Friday, Trump posted on his Truth Social platform. 'Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country,' Trump said. He also posted in an allcaps message that the United States has a 'massive' trade deficit with India. He added that India has 'always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE.' Trump did not specify what the penalty he referred to for Russia trade will be. The measure comes as the 79-year-old Republican has signaled he intends to tighten US pressure on Moscow to halt fighting in Ukraine and negotiate a peace deal. On Tuesday, Trump said he was giving Russian President Vladimir Putin 10 days -- which would mean the end of next week -- to change course in Ukraine or face unspecified punishment. 'We're going to put on tariffs and stuff,' he said, but 'I don't know if it's going to effect Russia because obviously he wants to keep the war going.' India, the world's most populous country, was one of the first few major economies to engage Washington in broader trade talks. But six months later, Trump's sweeping demands and India's reluctance to fully open its agricultural and dairy sectors have so far prevented New Delhi from sealing a deal that would shield it from punitive tariffs. On Tuesday, Trump had said India could face a 20-25% rate since a trade deal had not been finalized. The announced tariffs will mark a huge leap from the current 10% baseline tariff on Indian shipments to the United States. Trump has set out to upend the global economy by trying to leverage US economic power to squeeze trading partners with tariffs and force foreign companies to move to the United States. Complex talks are underway with the European Union, China, Canada and other big partners. Trump has threatened to hit dozens of other countries with stiffer tariffs from this Friday unless they reach trade deals.
