Latest news with #IndianTradeMinistry
South China Morning Post
7 days ago
- Business
- South China Morning Post
Ukraine war: Trump threatens India with higher tariffs over Russian oil
US President Donald Trump said on Monday that he would substantially raise tariffs on India over its purchases of Russian oil. '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,' Trump said in a social media post. 'Because of this, I will be substantially raising the Tariff paid by India to the USA.' He did not elaborate on what the tariff would be. India's trade ministry did not immediately respond to a request for comment. Last week, Trump said he would impose a 25 per cent tariff on goods imported from India and added that the world's fifth-largest economy would also face an unspecified penalty but gave no details.
South China Morning Post
7 days ago
- Business
- South China Morning Post
Trump threatens India with ‘substantially' higher tariffs over Russian oil amid Ukraine war
US President Donald Trump said on Monday that he would substantially raise tariffs on India over its purchases of Russian oil. '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,' Trump said in a social media post. 'Because of this, I will be substantially raising the Tariff paid by India to the USA.' He did not elaborate on what the tariff would be. India's trade ministry did not immediately respond to a request for comment. Last week, Trump said he would impose a 25 per cent tariff on goods imported from India and added that the world's fifth-largest economy would also face an unspecified penalty but gave no details.
Qatar Tribune
15-05-2025
- Business
- Qatar Tribune
India's bold trade offer: Zero tariffs for US goods, claims Trump
Agencies India had offered a trade deal that proposed 'no tariffs' for American goods, U.S. President Donald Trump claimed on Thursday, while also expressing his dissatisfaction with Apple's plans to invest in India. New Delhi is seeking to clinch a trade deal with the U.S. within the 90-day pause announced by Trump on April 9 on tariff hikes for major trading partners. 'It is very hard to sell in India, and they are offering us a deal where basically they are willing to literally charge us no tariffs,' Trump said in a meeting with executives in the Qatari capital Doha. Reuters has reported that New Delhi has offered to reduce duties to zero on 60% of tariff lines in a first phase of the deal under negotiation with Washington, while offering preferential access to nearly 90% of the merchandise India imports from the U.S. India's equity benchmarks jumped to a seven-month high after Trump's comment on the deal with India. The Indian Trade Ministry did not reply to an email seeking comments on the proposed deal. Trump in Doha also said he had confronted Apple's CEO Tim Cook about shifting production to India, as the American company moves to make most of its iPhones sold in the United States at factories in India by the end of 2026, and is speeding up those plans to navigate potentially higher tariffs in China. 'Tim, we treated you very good, we put up with all the plants you built in China for years. we are not interested in you building in India, India can take care of themselves, they are doing very well, we want you to build here,' Trump recalled himself telling Cook, who was not in the Doha meeting. Indian Prime Minister Narendra Modi has in recent years promoted India as a smartphone manufacturing hub, and Apple's suppliers have ramped up production in the country.
