


Indian Prime Minister Narendra Modi said he is “ready to pay a big price” and pledged to back India’s farmers amid increased U.S. tariffs on his country.
President Donald Trump doubled U.S. tariffs on India to 50% on Wednesday over the country’s purchases of Russian oil.
Recommended Stories
- Senior EU official suggests Israel's war in Gaza 'looks very much' like 'genocide'
- Japan commemorates 80 years since atomic bombing of Hiroshima
- Trump to meet with Putin as soon as next week
“I know that I might have to pay a big price for this,” Modi said in New Delhi on Thursday. “But I’m ready for the sake of India’s farmers, fishermen, and livestock keepers. Today, India is ready.”
Modi did not mention the new tariffs, which his country recently called “unfair, unjustified and unreasonable.” On Thursday, Trump celebrated the rollout of his tariffs on more than 50 countries.
Trump’s order also places pressure on Russia, which provided 1.75 million barrels of oil to India from January to June of this year. Trump could restrict Russia’s trade prospects further if India relents and drops its financial support of the Russian oil industry.
“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,” Trump wrote on social media. “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.”
Indian officials have indicated that they will continue to buy Russian oil.
However, the tariffs are making Trump less popular with India, a U.S. ally, and its people. Farmers are a large voting bloc in India, and the tariffs will undoubtedly affect them.
“Trump’s 50% tariff is economic blackmail — an attempt to bully India into an unfair trade deal. PM Modi better not let his weakness override the interests of the Indian people,” said Rahul Gandhi, leader of the opposition Congress Party.
TRUMP RAISES INDIA TARIFFS TO 50% OVER RUSSIAN OIL PURCHASES
Modi is meeting with China for the first time in seven years this month as India’s relationship with the United States worsens.
The prime minister also spoke with Brazilian President Luiz Inacio Lula da Silva on Thursday. Brazil is also facing 50% tariffs and has refused to engage in direct talks with the U.S. to negotiate.