In Washington, President Donald Trump said during a White House press conference that the U.S. tariffs on India, which are now at 50% because India keeps buying Russian oil, had dealt a “big blow” to Moscow’s economy. Trump added that India’s “largest or second-largest oil buyer” has “very well disturbed” Russia’s economy because of global pressures and U.S. trade policies.
The Trump administration recently put a 50% tariff in place in two steps: a 25% tax on July 30 and another 25% tax on August 7. The second tax was put in place by an executive order. The new tax puts India and Brazil on the same level when it comes to commerce. Trump had added in a different interview, “They’re fueling the war machine, and if they’re going to do that, then I’m not going to be happy.”
Meeting with Putin soon
The President’s statements came before his meeting with Russian President Vladimir Putin in Alaska on Friday, August 15. This meeting is very important. Putin hasn’t been to the US since 2015, thus this meeting is his first trip there. Trump said he wants “constructive conversations” and thinks it’s “very respectful” that Russia is prepared to meet in the U.S.
Trump also talked about his plans for further diplomatic endeavors, such as meeting with Ukrainian President Volodymyr Zelenskyy following the summit with Putin. He said he would be willing to go to a meeting with both leaders if necessary, with the goal of getting a truce and a peaceful end to the fighting.
India, on the other hand, has called Trump’s tariff action “unfair, unjustified, and unreasonable.” The Ministry of External Affairs said that India’s oil imports are based on its energy security needs and market conditions. Even if the U.S. is putting pressure on India, India’s oil imports from Russia are still constant, and Russia is still India’s biggest supplier. In fact, some estimates say that India’s crude oil imports from the U.S. have also been rising in 2025, even if Russian oil still makes up more than 36% of its total imports.