The US Treasury Secretary has warned that the Trump administration could impose additional secondary tariffs on India, with the final decision depending on the outcome of a meeting between President Donald Trump and Russian President Vladimir Putin.
Speaking to Bloomberg TV on Wednesday, Treasury Secretary Scott Bessent said the US may impose further secondary sanctions if the talks in Alaska on Friday fail to yield positive results.
“We’ve put secondary tariffs on Indians for buying Russian oil. And I could see, If things don’t go well, then sanctions or secondary tariffs could go up,” Bessent said in an interview to Bloomberg TV.
In a separate statement to Fox News, Bessent described India as “a bit recalcitrant” in trade negotiations. New Delhi and Washington had been engaged in talks that hit a roadblock earlier this month, with Trump announcing a suspension of the discussions over the Russian trade and reportedly over other concerns.
Trade negotiations may resume with US negotiators expected to arrive in India on 25 August, just two days before the 50 per cent tariff on Indian goods is set to take effect. However, experts believe that India’s stance on keeping its agriculture and dairy markets protected is likely to remain a major point of contention in the talks.
Trump and his Russian counterpart are set to meet in Anchorage, Alaska, on Friday to discuss ways to end the war in Ukraine. The US President, who has been trying to mediate a ceasefire between the warring nations, warned of “severe consequences” if Moscow does not agree to a peace deal.
