Trump's tariff threats & jibes: India calls out US, EU hypocrisy in clear message, says ‘revealing that countries criticizing…'
US President Donald Trump's 25% tariff, threats of higher duties, additional penalties, and jibes calling India a 'dead economy' don't appear to have gone down well with India. The Narendra Modi government is calling out the hypocrisy of the Western countries like the US and European Union on oil trade with Russia, and also asserting that India is a 'bright spot' in the global economic scenario.
After imposing a 25% tariff on India last week, Trump had targeted Russia and India, calling them 'dead economies'. Trump's pressure tactics on getting India to stop buying oil from Russia don't seem to be working as Russian crude continues to flow.
India is working on countering the impact of America's 25% tariff on Indian goods exported to the US. A Rs 20,000 crore plan is being readied by the government and there is a push to encourage homegrown brands.
Also Read |
Amidst Donald Trump's tariff threats, India plans big! Rs 20,000 crore project being readied for exporters; 'Brand India' to be promoted
Trump on Monday posted on Truth Social, 'India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA. Thank you for your attention to this matter!!!'
The foreign ministry was quick to respond with a 6-point rebuttal. From continuing to buy Russia oil, securing national interest to asserting India's growing economic clout and hitting out at the West for its double standards - here's a look at India's strategy:
India's clear message to US: Top 10 points
1) India's oil strategy beneficial for world:
The ministry of external affairs has said that while India has faced criticism from the United States and European Union regarding its Russian oil imports, its decision to source oil from Russia stemmed from the redirection of conventional supplies to Europe during the crisis.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
20 Legendary Cars from the Past
chillinghistory.com
Undo
The US actually supported India's imports at the time, viewing it as beneficial for stabilising global energy markets, the MEA statement said.
2) Why criticize India?
India has said that its procurement of energy resources aims to provide stable and cost-effective solutions for its citizens. These purchases are essential due to prevailing international market conditions. 'However, it is revealing that the very nations criticizing India are themselves indulging in trade with Russia.
Unlike our case, such trade is not even a vital national compulsion,' India has hit out.
Also Read |
How India, China may not come to Trump's rescue to get Putin to stop Russia-Ukraine war
3) Europe's trade with Russia:
India was quick to point out that the European Union's trade relationship with Russia in 2024 included goods worth Euro 67.5 billion. The services trade was valued at Euro 17.2 billion in 2023. These figures are way more than India's overall trade with Russia during that period. European LNG imports notably peaked at 16.5mn tonnes in 2024, more than previous high of 15.21mn tonnes in 2022.
4) Europe imports several things from Russia:
India also said that the trade between Europe and Russia extends beyond energy resources, including diverse sectors such as fertilisers, mining products, chemicals, iron and steel products, as well as machinery and transport equipment.
5) US trade with Russia:
India highlighted that the United States maintains its imports of various products from Russia, including uranium hexafluoride for nuclear facilities, palladium for electric vehicle production, along with fertilisers and chemical products.
Also Read |
Russia oil in focus: Tankers deliver millions of barrels of Russian crude to India; no impact of Trump, EU pressure yet
6) 'National interests' important:
The message was clear - given these circumstances, singling out India appears unwarranted and illogical. 'In this background, the targeting of India is unjustified and unreasonable. Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,' the MEA statement said.
7) No stop on Russia oil procurement:
India is continuing with its Russian crude oil imports despite mounting pressure from both the European Union and the Donald Trump administration.
The continuous flow of Russian oil shipments was evident as several tankers discharged millions of barrels at Indian refineries over the weekend. India has also indicated that it maintains a strong relationship with Russia. Speaking on Friday, foreign ministry spokesperson Randhir Jaiswal characterised this bilateral connection as a "steady and time-tested partnership.
"
8) PM Modi's call for buying local:
In the midst of the US tariff stalemate, PM Modi has stressed the importance of safeguarding India's interests during global economic uncertainty.
"The world economy is going through many apprehensions — there is an atmosphere of instability," Modi said at a rally in Uttar Pradesh on Saturday. "Now, whatever we buy, there should be only one scale: we will buy those things which have been made by the sweat of an Indian.
"
Modi's emphasis on bolstering domestic production and consumption is consistent with his existing "Make in India" initiative. This strategy has gained additional relevance in light of the recent US trade measures and Modi's remarks suggest a defiant note on US threats.
Also Read |
Big message! PM Modi strikes defiant 'Make in India' note in face of Trump's tariff & penalty threats; India to continue buying Russia oil
During Saturday's gathering, Modi said: "The interests of our farmers, our small industries and the employment of our youth are of paramount importance."
9) Indian Army's dig at US:
In a dig at America, the Indian Army shared a significant historical reference on Tuesday, emphasising the US support to Pakistan during the 1971 conflict.
The Army's social media account featured a post titled "This Day That Year – Build Up of War – 05 Aug 1971 #KnowFacts", accompanied by a vintage newspaper headline saying "US ARMS WORTH $2 BILLION SHIPPED TO PAKISTAN SINCE '54."
10) Dead economy? Third largest economy soon:
Last week, commerce minister Piyush Goyal, while addressing the Parliament asserted that India is the fastest growing economy in the world. Goyal's statement in the context of the 25% tariff rate on India, was also seen as a response to Trump's 'dead economy' jibe.
'In just over a decade, India has rapidly transformed from being one of 'Fragile Five' to the fastest growing major economy in the world.
Today, international institutions and economists see India as the bright spot in the global economy. India is contributing to almost 16% of global growth,' Goyal said.
'We have risen from the 11th largest economy to one of the top 5 economies driven by our reforms, hard work of our farmers, MSMEs, and entrepreneurs. It is also widely expected that we will become the third largest economy in a few years,' he added.
Also Read |
'More likely to happen in Lagaan, than...': Harsh Goenka mocks Trump's 'Pakistan may sell oil to India' suggestion; here's the reality of Pak's 'massive' reserves
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
25 minutes ago
- Hindustan Times
Donald Trump pulls the trigger, doubles India levy to 50%
President Donald Trump signed an executive order on Wednesday imposing an additional 25% tariff on all Indian goods entering the US, carrying out his threat made a day ago to penalise New Delhi's continued purchases of Russian oil. Trump's additional 25% tariff followed after over a week of criticism focused on New Delhi's continued purchases of Russian energy. (REUTERS) The additional 25%, due to take effect on August 27, puts India at par with Brazil as the two countries whose exports will face the highest levy of 50% on their goods. The duties would put Indian exporters at a significant disadvantage compared to their rivals in Bangladesh, Indonesia and Vietnam – which face tariffs of between 19% and 20% tariffs. 'I have received additional information from various senior officials on the actions of the government of the Russian Federation with respect to the situation in Ukraine,' Trump wrote in the executive order. 'I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil.' India hit back, reiterating that the American actions are 'unfair, unjustified and unreasonable'. 'India will take all actions necessary to protect its national interests,' ministry of external affairs spokesperson Randhir Jaiswal said in a statement, adding that it was 'extremely unfortunate' that the US had chosen to act against India 'for actions that several other countries are also taking in their own national interest'. He was alluding to continuing imports of Russian energy, especially LNG, by European Union (EU) member states that have paid Russia $105.6 billion for gas imports since the start of the invasion of Ukraine. Almost 87% of all EU imports of Russian LNG went to Spain, France or Belgium, people familiar with the matter said, asking not to be named. To be sure, the executive order continues exemptions provided earlier for sectors like pharmaceuticals and smartphones — though how long these exemptions remain is unclear. The order also exempts goods that are already in transit to America and which will clear US customs before September 17. 'The move places India among the most heavily taxed US trading partners, far above rivals such as China, Vietnam, and Bangladesh, and threatens most of India's $86.5 billion in annual exports to the US, from textiles to machinery,' according to analysis by the Global Trade Research Institute. 'The tariffs are expected to make Indian goods far costlier in the US, with potential to cut US-bound exports by 40–50%,' the GTRI analysis added. The executive order issued on Wednesday specifies that certain exemptions will continue. Among these are Section 232 national security exemptions that protect Indian pharmaceuticals — which account for about 40% of America's generic medicines — along with electronics, semiconductors and technology products that form the backbone of bilateral trade. Additional exemptions under Executive Order 14257's Annex II cover raw materials, certain metals and chemical formulations. Select product categories like apparels, vehicles and parts, furniture, organic chemicals and some food products like shrimp – which account for billions of dollars of exports -- will now face high tariffs entering the US market. Trump's additional 25% tariff followed after over a week of criticism focused on New Delhi's continued purchases of Russian energy. Washington has sought to increase economic pressure on Russia to negotiate an end to the Ukraine war by restricting Moscow's oil export revenues. India is Russia's second largest market for oil exports after China. In 2024, China purchased Russian oil worth $62.6 billion, followed by India's purchases to the tune of $52.7 billion. In the order, the US president also specified that he may – in the 21 days before the order takes effect – change the levy if 'if another country retaliates against the United States in response to this action, or if the government of the Russian Federation or a foreign country impacted by this order takes significant steps to address the national emergency and align sufficiently with the United States on national security, foreign policy, and economic matters.' In other words, Trump held out both a threat that he could ratchet up the levy or pare it back, depending on any retaliation or changes to Russia's stance in the war against Ukraine. Trump has set an August 8 deadline for Russia to agree to a Ukraine truce deal. 'There's a higher chance that India will find loopholes to concede the agri/soybean access the US has been asking for, than there is for India to halt oil purchases from Russia due to external pressure. Either way, it is unlikely that a decision will be taken on either front as long as Parliament is in session. Momentum on real solutions shouldn't be expected before August 20,' says Prerna Bountra, Deputy Director at the Ananta Aspen Centre, a New Delhi-based think tank. The rising tensions between India and the United States have also spiralled into a political controversy, with Opposition parties objecting to the government's handling of ties with America. Congress leader Rahul Gandhi called the move 'economic blackmail' by the US to bully India into an unfair trade deal, adding Prime Minister Narendra Modi should not let Indian interests be overridden. (With inputs from Rezaul H Laskar in New Delhi)
Hindustan Times
25 minutes ago
- Hindustan Times
Donald Trump plans to meet Vladimir Putin, Volodymyr Zelensky next week in a renewed bid to end Ukraine war
President Donald Trump told European allies he's planning to meet with Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky as soon as next week in another bid to bring peace between the two countries. The effort to convene a meeting of Donald Trump, Vladimir Putin, and Volodymyr Zelensky came hours after Putin finished hosting US special envoy Steve Witkoff for three hours of discussions in Moscow.(AP) Trump detailed the plans in a phone call Wednesday that also included Zelensky, according to a person familiar with the discussion. The effort to convene a meeting of the three leaders came hours after Putin finished hosting US special envoy Steve Witkoff for three hours of discussions in Moscow. Trump in a social media post earlier on Wednesday said that there was 'great progress made' in that meeting, while still leaving open the possibility of further penalties on Moscow's oil revenues. The White House didn't immediately respond to a request for comment. The New York Times first reported Trump's plans as relayed on the call with the diplomats. Earlier Wednesday, Trump doubled tariffs on Indian goods to 50% as punishment for its purchases of Russian energy. US officials are weighing additional actions to choke off energy sales that are a key source of funds for Russia's war effort in Ukraine. The Trump administration is considering new sanctions on Moscow's covert fleet of oil tankers and several entities that enable them to operate, according to people familiar with the matter. 'Afterwards, I updated some of our European Allies,' Trump said in the post. 'Everyone agrees this War must come to a close, and we will work towards that in the days and weeks to come.' Still, a White House official said the US expected to implement secondary sanctions on Friday even as they expressed satisfaction with the outcome of the Witkoff-Putin meeting. Putin's government said little about the three-hour conversation, with Kremlin foreign policy aide Yuri Ushakov telling reporters the Russian leader exchanged 'signals' with Trump on Ukraine, without elaborating. The Russian vessels have become instrumental to its ability to move its oil despite US and European sanctions. 'The shadow tanker fleet is the backbone of Russia's sanctions evasion and war financing,' Andriy Yermak, Ukrainian President Volodymyr Zelenskiy's chief of staff, said on the X platform. The Financial Times first reported the potential measures on Russia's shadow fleet. The people said the Trump administration is considering a range of options to restrict Putin's energy revenues. Other possibilities could include measures targeting oil companies and actions to better enforce existing restrictions.
News18
25 minutes ago
- News18
Trump Says He Intends To Meet Putin, Zelensky As Early As Next Week, Following Witkoff Trip
New sanctions against Russia will still kick in the White House said, even as President Donald Trump praised a meeting between US special envoy Steve Witkoff and President Vladimir Putin as 'highly productive' – and said he was open to meeting the Russian leader as early as next week. News18 Mobile App -
