SRINAGAR: US Treasury Secretary Scott Bessent on Wednesday that said that Washington may raise secondary tariffs on India if President Donald Trump’s upcoming meeting with Russian President Vladimir Putin in Alaska on August 15 fails to yield progress on ending the Ukraine war reports BBC.
Bessent as per Bloomberg TV said that the US has already imposed secondary tariffs on India for buying Russian oil, now totaling 50 percent after Trump doubled the levy on August 7. Trump has accused India of “fueling the war machine” and warned of “very severe” consequences for Russia if it does not agree to halt the conflict.
Bessent urged European nations to join the US in enforcing secondary sanctions, saying coordinated action would create greater leverage.
