US has ‘no right' to tell India who to trade with
Last week, the White House announced an extra 25% tariff on Indian imports, raising the overall tariff level faced by the South Asian nation to 50%. US President Donald Trump said the measure was prompted by India's continued imports of Russian oil. New Delhi condemned the move as 'extremely unfortunate' and pledged to safeguard its national interests.
Sachs described the tariff increase as a clear reason for India to remain cautious in its dealings with Washington.
'Don't rely on them. India needs a diversified base of partners – Russia, China, ASEAN countries, Africa, and not see itself as mainly focusing on the US market, which is going to be unstable, slow-growing and basically protectionist,' according to Sachs.
Addressing India's imports of Russian oil, Sachs stated that Washington has no authority to determine the trading relations of other nations.
The US 'does not act responsibly towards other countries. Be careful. India should not allow itself to be used by the US, somehow, in the US' misguided trade war with China,' the economist noted.
New Delhi is now seeking to expand its export presence in the 50 countries that account for about 90% of its total exports in an effort to offset the impact of the higher tariffs, according to local media reports, citing government sources. The initiative is intended to reduce reliance on any single market and to minimize risks arising from trade disruptions.
In response to the US threats to impose secondary sanctions on Russia's trade partners, including India, China, and Brazil, Moscow stated that it believes 'sovereign states should have, and do have, the right to choose their own trade partners,' as well as to independently determine which avenues of cooperation best serve their national interests.
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