“We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves. We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they’ll be selling Oil to India some day!” wrote the United States President Donald Trump.
He further stated said US had concluded a deal with Pakistan to help develop its “massive” oil reserves and was in process of choosing a company to lead this partnership.
Taking to social media, Trump wrote of speaking with the leaders of several countries who want to make the US “extremely happy”. He stated various nations had made offers to the US for tariff reductions which, according to him, will reduce the country’s “trade deficit” massively.
When asked what the additional penalty is he has levied on India for “supporting” Russia and whether other countries are also facing the same threat, Trump responded that the US is in process of negotiating with India. He expressed his displeasure over India being a member of the BRICS. Apart from India, BRICS includes Brazil, Russia, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia, and Iran. Trump also stressed that despite Prime Minister Narendra Modi is his “friend”, India is a nation that has “one of the highest tariffs” in the world and added that the US had a “tremendous” trade deficit with India.
Referring to BRICS, he stated that the group comprised of 11 nations with emerging economies globally, who he claimed were anti US and regarded activities of BRICS as an “attack” on the dollar.
“Well, we are negotiating right now and it’s also BRICS. BRICS, which is basically a group of countries that are anti the United States and India is a member of that if you can believe it...It is an attack on the dollar and we are not going to let anybody attack the dollar. So it’s partially BRICS and it’s partially trade,” said Trump.
In response to US President Donald Trump’s announcement that India would face a 25 per cent tariff on certain exports starting August 1, New Delhi stated it had made a note of the statement and would analyse its “implications”.
Stating that the government attaches the importance to safeguarding and promoting the welfare of the Indian farmers, entrepreneurs, and MSMEs, New Delhi assured it would implement the necessary steps to secure the national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK.
India’s trade with Russia and BRICS ties draw Trump’s tariff “penalty”
Donald Trump showing the list with the tariff levels for each country.
President Donald Trump has announced that the United States will impose a 25% tariff on certain Indian exports, effective August 1, along with an unspecified “penalty” for India’s continued trade with Russia. Trump, who also announced a deal with Pakistan to develop its oil reserves, criticized India’s high tariffs and its membership in BRICS, a group he views as “anti-United States” and an “attack on the dollar.” In response, India’s government stated it is analyzing the implications of the announcement and will take necessary steps to protect its national interests.
