“To pressure India to stop buying discounted Russian crude, President Donald Trump has added a 25% tariff on imports from New Delhi.”
“President Trump has slapped an additional 25% duty on Indian imports to compel India to end its purchases of Russian oil at discounted rates.”
“In an effort to curb India’s import of discounted Russian crude, Donald Trump has imposed a 25% extra tariff on goods from India.”
“Donald Trump has raised tariffs by 25% on Indian imports to push New Delhi to halt its Russian oil acquisitions.”
Washington:“Finance ministers of the G7 nations discussed on a Friday call additional sanctions on Russia and possible tariffs on countries they see as ‘supporting’ its war in Ukraine, while the U.S. urged its allies to impose tariffs on buyers of Russian oil.”
Canadian Finance Minister Francois-Philippe Champagne chaired the G7 meeting, held to discuss additional steps to increase pressure on Russia to end its war against Ukraine, according to a statement from Canada, the current holder of the G7 presidency.”
The ministers agreed to accelerate talks on using frozen Russian assets to support Ukraine’s defense and reviewed a ‘broad set of potential economic actions to increase pressure on Russia, including additional sanctions and trade measures, such as tariffs, targeting those who aid Russia’s war efforts,’ the statement said.
U.S. Treasury Secretary Scott Bessent told finance ministers during the call that they should align with the U.S. in imposing tariffs on countries that buy oil from Russia, Bessent and U.S. Trade Representative Jamieson Greer said in a separate statement after the meeting
Only through a coordinated effort that cuts off the funds fueling Putin’s war machine at the source can we apply enough economic pressure to stop the senseless killing,’ Bessent and Greer said.
Bessent and Greer welcomed the commitments made during the call to strengthen sanctions pressure and consider using frozen Russian sovereign assets to support Ukraine’s defense, according to the joint statement.
Earlier in the day, a U.S. Treasury spokesperson urged G7 and EU allies to impose ‘meaningful tariffs’ on imports from China and India to pressure them to stop buying Russian oil.
President Donald Trump has added an extra 25% tariff on imports from India to push New Delhi to halt purchases of discounted Russian crude, raising total duties on Indian goods to 50% and straining trade talks between the two democracies.
However, Trump has held off on extra tariffs on Chinese imports despite China’s Russian oil purchases, as his administration manages a delicate trade truce with Beijing.
Bessent is scheduled to travel to Madrid on Friday for further discussions with his Chinese counterpart, Vice Premier He Lifeng, covering trade matters, Washington’s demand for Chinese-owned TikTok to divest its U.S. operations, and anti-money laundering concerns.
Earlier on Friday, Trump said his patience with Russian President Vladimir Putin was wearing thin, but he stopped short of threatening new sanctions in a Fox News interview.
Trump voiced frustration over Putin’s refusal to end the war, noting that sanctions on banks and oil could increase pressure on Russia, but stressed that European countries must also participate.