tariffs – The Commune https://thecommunemag.com Mainstreaming Alternate Mon, 01 Sep 2025 03:39:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 https://thecommunemag.com/wp-content/uploads/2020/07/cropped-TC_SF-1-32x32.jpg tariffs – The Commune https://thecommunemag.com 32 32 Trump Claims Tariffs Brought In ‘Trillions’ After Appeals Court Rebuke https://thecommunemag.com/trump-claims-tariffs-brought-in-trillions-after-appeals-court-rebuke/ Mon, 01 Sep 2025 03:39:28 +0000 https://thecommunemag.com/?p=126830 US President Donald Trump claimed his tariffs brought in “trillions of dollars” to the US economy, after a federal appeals court ruled that he overstepped his presidential authority by imposing them without congressional approval. Trump took to Truth Social to defend his trade agenda. In a post, he declared, “Prices are WAY DOWN in the […]

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US President Donald Trump claimed his tariffs brought in “trillions of dollars” to the US economy, after a federal appeals court ruled that he overstepped his presidential authority by imposing them without congressional approval. Trump took to Truth Social to defend his trade agenda.

In a post, he declared, “Prices are WAY DOWN in the USA, with virtually no inflation. With the exception of ridiculous, corrupt politician-approved ‘Windmills,’ which are killing every State and Country that uses them, Energy prices are falling, big time. Gasoline is at many year lows. All of this despite magnificent Tariffs, which are bringing in Trillions of Dollars from Countries that took total advantage of us, for decades, and are making America STRONG and RESPECTED AGAIN!!!”

Trump’s remarks come after a significant legal blow to his administration’s trade policies. On Friday, the US Court of Appeals ruled that Trump had overstepped his presidential authority by unilaterally imposing so-called “reciprocal tariffs” during his time in office.

The court emphasised that the power to levy tariffs lies “exclusively” with Congress as part of its constitutional authority over taxation and trade. The court specifically addressed Trump’s use of the 1977 International Emergency Economic Powers Act (IEEPA), stating that while it grants the President certain emergency powers, it does not provide the authority to impose tariffs or taxes.

The ruling, however, will not take immediate effect and has been stayed until October 14 to allow the administration to seek an appeal. In response to the decision, Trump indicated he would take the matter to the US Supreme Court, arguing the ruling undermines presidential powers necessary to protect national economic interests. Notably, tariffs on steel and aluminium, enacted under a separate legal statute, will remain in effect.

-IANS

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US May Not Impose Additional 25% Tariffs On India Over Russian Oil, Hints Trump https://thecommunemag.com/us-may-not-impose-additional-25-tariffs-on-india-over-russian-oil-hints-trump/ Sat, 16 Aug 2025 05:52:30 +0000 https://thecommunemag.com/?p=125241 The Donald Trump administration may not impose secondary tariffs on India over purchasing Russian energy, as the US President said that Russia has already lost a key oil client. Speaking to Fox News aboard Air Force One en route to Alaska, Trump said the US may not impose secondary tariffs on countries continuing to buy […]

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The Donald Trump administration may not impose secondary tariffs on India over purchasing Russian energy, as the US President said that Russia has already lost a key oil client.

Speaking to Fox News aboard Air Force One en route to Alaska, Trump said the US may not impose secondary tariffs on countries continuing to buy Russian crude oil.

“Well, he (Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot…,” said Trump.

“And if I did what’s called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I’ll do it. Maybe I won’t have to do it,” he added. The secondary 25 per cent tariffs on India are likely to come into effect from August 27.

Earlier this week, US Treasury Secretary Scott Bessent said if “things don’t go well” between Trump and Putin at the Alaska summit, then secondary sanctions on India for purchasing Russian oil could go higher. Meanwhile, the government has already said the targeting of India is unjustified and unreasonable.

“Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,” it said. The fact is that India has sharply increased its purchases of oil and gas from America.

This, in turn, has led to a reduction in India’s trade surplus with the US, which is a major aim of the Trump administration’s trade policy. Official figures show that India’s oil and gas imports from the US have jumped by as much as 51 per cent from January to June this year.

The country’s liquefied natural gas (LNG) imports from the US nearly doubled to $2.46 billion in the financial year 2024-25 from $1.41 billion in 2023-24. Prime Minister Narendra Modi had assured in February that India would increase energy imports from the US to $25 billion in 2025 from $15 billion in 2024 to help reduce the trade deficit of the US.

This was followed by Government-owned Indian oil and gas companies entering into discussions for more long-term energy purchases from the US companies. New Delhi has also made it clear that it was diversifying its sources of energy imports to reduce dependence on Russian oil.

New Delhi has also made it clear that India and the US share a very important strategic relationship that goes beyond trade.

-IANS

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Former US VP Mike Pence Says Trump’s Tariffs Hitting US Firms And Consumers Hard https://thecommunemag.com/former-us-vp-mike-pence-says-trumps-tariffs-hitting-us-firms-and-consumers-hard/ Fri, 08 Aug 2025 11:00:42 +0000 https://thecommunemag.com/?p=124284 Former US Vice President Mike Pence, in a scathing attack against President Donald Trump’s trade policy, said on Thursday that American companies and consumers are paying the cost of US tariffs. Pence took to X to highlight that the cost of production of US companies like auto giant Ford has shot up following the increase […]

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Former US Vice President Mike Pence, in a scathing attack against President Donald Trump’s trade policy, said on Thursday that American companies and consumers are paying the cost of US tariffs.

Pence took to X to highlight that the cost of production of US companies like auto giant Ford has shot up following the increase in tariffs on inputs. US consumers are also ending up paying higher prices for goods due to the tariffs levied by Trump, he added.

The former Vice President emphasised the need for “Free trade with Free nations”. To drive home his point, Pence tagged an article from ‘Reason,’ a US monthly magazine, which stated that Ford had paid $800 million in tariff-related expenses during the second quarter of 2025, despite building most of its cars in America.

“If President Donald Trump’s tariffs were boosting the prospects of American-based manufacturing, then Ford Motor Co. ought to be one of the biggest winners. After all, Ford builds more vehicles in the United States than any other automaker — it churned out 1.8 million of them last year — while employing around 57,000 manufacturing workers at plants across the upper Midwest. It’s a legacy American brand, doing the sort of blue-collar work in the Rust Belt that the Trump administration believes its trade policies will directly benefit,” the article states.

In reality, the tariffs are crushing Ford. The automaker announced this week that it paid $800 million in tariff-related expenses during the second quarter of 2025 (during which it posted its first quarterly loss since 2023), and that it expects the tariffs to reduce annual profits by about $3 billion.

Even for a company that earned an operating profit of $10.2 billion last year, that’s a tremendous blow, the article written by Eric Boehm stated. The Ford management is reported to have held multiple rounds of talks with the Trump administration in an attempt to reverse the setback due to the hike in tariffs.

Mike Pence had earlier stated that President Trump’s tariffs marked the “largest peacetime tax hike on the American people in the history of this country” and contributed to rising costs for consumers.

-IANS

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Trump Rules Out Tariff Talks With India As 50% Hike Set For August 27 https://thecommunemag.com/trump-rules-out-tariff-talks-with-india-as-50-hike-set-for-august-27/ Fri, 08 Aug 2025 04:37:57 +0000 https://thecommunemag.com/?p=124170 US President Donald Trump has ruled out negotiations with India on the tariffs that will rise to 50 per cent later this month. “No, not until we get it resolved”, he said when a reporter asked him if he expected more negotiations following the announcement of the 50 per cent tariff that is to take […]

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US President Donald Trump has ruled out negotiations with India on the tariffs that will rise to 50 per cent later this month. “No, not until we get it resolved”, he said when a reporter asked him if he expected more negotiations following the announcement of the 50 per cent tariff that is to take effect on August 27.

It was not clear from the curt reply if he meant the resolution of the Ukraine War, since the additional 25 per cent punitive tariff he announced on Wednesday for buying Russian oil is linked to it, or a settlement of issues underlying the 25 per cent tariff he imposed on India last week in his general trade war.

The punitive tariff appeared to aim at bringing economic pressure on Moscow to agree to a ceasefire, as India is the second-biggest customer for its oil. He was also ambiguous on Wednesday when a reporter asked him if he would end the 25 per cent punitive tariff if there was an agreement with Moscow on ending the war.

He said, “We’ll determine that later, but right now, they’re paying a 50 per cent tariff”. Trump had put a 50-day deadline for Russia to agree to a ceasefire or get hit with more sanctions, at which time the punitive measures known as secondary tariffs would be imposed on all its oil customers.

He later shortened it to 12 days, ending Friday, but came out with the 25 per cent punitive tariff singling out India on Wednesday, although it won’t take effect till August 27. India said it was “extremely unfortunate” that the US was imposing “additional tariffs on India for actions that several other countries are also taking in their own national interest”.

It vowed to “take all actions necessary to protect its national interests”. Trump and Indian officials had been very optimistic about reaching a trade deal, as recently as last month, saying it was imminent. However, the negotiations apparently collapsed, according to reports, over US demands for access to agriculture and dairy markets in India.

About Friday’s deadline for Russia sanctions and the secondary tariffs, Trump said, “It’s going to be up to him (Putin). We’re going to see what he has to say”. He added that he was “very disappointed” with Putin, who has defied Trump’s attempts to end the Ukraine War.

But Trump and the Kremlin have indicated that there was progress in their negotiations. Trump’s Special Envoy Steve Witcoff held three hours of talks with Russia’s President Vladimir Putin on Wednesday. “We had some very good talks with President Putin”, Trump said, adding that there was “a very good chance” that they were nearing the end of the road to peace.

The Kremlin said on Thursday that Putin and Trump planned to meet soon, and media reported quoting, US officials, that it could take place next week. Trump did not confirm the timing, but said, “They (Russian leaders) would like to meet with me, and I’ll do whatever I can to stop the killing” in the Ukraine War.

-IANS

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‘Ready To Bear The Cost’: PM Modi Stands Firm On Farmers & Fishermen Amid US Tariff Threats https://thecommunemag.com/ready-to-bear-the-cost-pm-modi-stands-firm-on-farmers-fishermen-amid-us-tariff-threats/ Thu, 07 Aug 2025 07:31:35 +0000 https://thecommunemag.com/?p=124097 Prime Minister Narendra Modi on Thursday said that he is ready to bear the cost of protecting India’s agricultural trade and the country would never compromise on farmers and fishermen interests, as US President Donald Trump announced to impose 50 per cent tariffs on India. Addressing the MS Swaminathan Centenary International Conference here, PM Modi […]

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Prime Minister Narendra Modi on Thursday said that he is ready to bear the cost of protecting India’s agricultural trade and the country would never compromise on farmers and fishermen interests, as US President Donald Trump announced to impose 50 per cent tariffs on India.

Addressing the MS Swaminathan Centenary International Conference here, PM Modi said that “for us, the interest of farmers remains our top priority”.

“India will never compromise on the interests of farmers, fishermen and dairy farmers,” the Prime Minister told the gathering. PM Modi further said that “I know we will have to pay a heavy price for it and I am ready for it. India is ready for it.”

The Prime Minister’s remarks came amid a trade standoff, triggered by Trump’s announcement of 25 per cent import duty on Indian goods, effective from August 7. He cited India’s purchase of crude oil and military hardware from Russia as grounds for another 25 per cent tariff hike, effective from August 27.

India has categorically said that the latest tariff actions by Trump are “unfair, unjustified and unreasonable”. “We reiterate that these actions are unfair, unjustified, and unreasonable. India will take all actions necessary to protect its national interests,” an MEA spokesperson said in a statement.

The United States has in recent days targeted India’s oil imports from Russia. “We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,” the MEA spokesperson said.

“It is, therefore, extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,” said the official statement.

The new tariffs will be applied to all eligible Indian goods entering the US from 21 days after the order’s signing, except for shipments already in transit before the deadline and cleared before September 17.

-IANS

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Trump’s Tariff Threats Risk Undoing 25 Years Of India-US Progress, Says Report https://thecommunemag.com/trumps-tariff-threats-risk-undoing-25-years-of-india-us-progress-says-report/ Wed, 06 Aug 2025 03:29:55 +0000 https://thecommunemag.com/?p=123884 With his actions in the recent weeks, US President Donald Trump is now in the process of tanking the India-US relationship built over 25 years. His actions will affect the bilateral ties after more than 20 years of bipartisan effort to transform the relationship between India and the US, including during his own first term, […]

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With his actions in the recent weeks, US President Donald Trump is now in the process of tanking the India-US relationship built over 25 years. His actions will affect the bilateral ties after more than 20 years of bipartisan effort to transform the relationship between India and the US, including during his own first term, US-based Carnegie Endowment for International Peace detailed in a report on Tuesday.

Trump has threatened to substantially raise tariffs on India and impose more for buying oil from Russia. In a post shared on his social media platform Truth Social, Trump stated, “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.” “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,” he stated.

In the Carnegie report, Evan Feigenbaum stated that Trump’s decision will be considered by India as “blunt coercion, gross interference in Indian foreign policy, impractical given India’s oil import needs, and a cynical effort to ‘blame India’ for the West’s (and Trump’s own) collective failure to get Moscow to stop its war on Ukraine”.

Trump had even threatened to impose additional tariffs on India for its participation in the BRICS grouping alongside Brazil, China, Russia, South Africa, and others. Analysts reckon Trump’s this decision also as gross interference and coercive. Trump has criticised and threatened US firms that manufacture in India while encouraging them to invest in the US or face financial penalties.

His statements have sharpened the contradiction between Trump’s “America First” and Modi’s “Make in India” visions, according to the report. US President’s meeting with Pakistan’s Army Chief General Asim Munir at the White House within weeks of terrorist attack in Jammu and Kashmir and the decision to jointly explore Pakistan’s oil reserves has also set alarm bells ringing.

“Trump’s fulsome praise for Islamabad and dealmaking with Pakistan’s army and government now raise obvious concerns in New Delhi that this too has gone by the wayside. And these concerns have been amplified exponentially because Trump’s moves came within weeks of the April 22 terrorist attack that killed twenty-six Indian civilians in Pahalgam and led to a new outbreak of hostilities between the two countries,” the report detailed.

It stated that the US administration under Trump has continued to promote a new American technonationalism, wherein technology sharing with foreigners is seen with skepticism. Some around Trump want to keep American technology close to home while reducing exports and co-innovation with foreign partners, as per the report.

For the first time in 20 years, Trump’s actions, statements and coercive tone has made ties with the US a combustible domestic political issue in India, it added. The opposition, the media, and the people in India have urged government to avoid showing weakness in the face of Trump’s threats.

Issues that directly affect India are among the most partisan and explosive in the US, including H1B visas for tech workers, offshoring and overseas manufacturing by US companies, immigration and deportation and technology sharing and co-innovation with foreigners, the report said.

This seems to be a bad sign for the next 20 years of US-India ties as overcoming domestic politics and partisanship has been perhaps the achievement since the first decade of the 2000s.

-IANS

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Trump Threatens To Raise Tariffs On India Over Russian Oil Trade https://thecommunemag.com/trump-threatens-to-raise-tariffs-on-india-over-russian-oil-trade/ Tue, 05 Aug 2025 04:01:26 +0000 https://thecommunemag.com/?p=123718 US President Donald Trump issued a fresh threat on Monday to “substantially” increase tariffs on India as a penalty, for what he alleged, for selling imported Russian oil on the open market for “big profits”. He did not say what the additional tariff on top of the 25 per cent he announced on Friday would […]

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US President Donald Trump issued a fresh threat on Monday to “substantially” increase tariffs on India as a penalty, for what he alleged, for selling imported Russian oil on the open market for “big profits”.

He did not say what the additional tariff on top of the 25 per cent he announced on Friday would be. Trump has been frustrated by Russia’s President Vladimir Putin’s refusal to end the Ukraine War and is directing his ire against India to pressure Moscow.

He wrote on Truth Social: “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.” “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,” he said.

Trump had initially said the penalty, known as secondary tariffs, applying to all buyers of Russian apply would be 100 per cent. He moved the deadline for Russia to agree to a ceasefire with Ukraine to late this week.

News reports over the weekend quoted unidentified Indian officials as saying in response to Trump’s earlier threats that New Delhi would continue to buy Russian oil, setting off the fresh outrage from Trump. While he focused on India, he did not say if a China that also buys a substantial amount of Russian oil would face similar penalties – or other countries like Turkey would too.

The US and China are negotiating a trade deal, and if Trump were to impose tariff penalties, it would complicate the talks. According to the International Energy Agency, India bought nearly 40 per cent of its imports from Russia, and 70 per cent of Moscow’s oil exports went to India.

Before the Ukraine War, India had bought only about 0.2 per cent of its needs from Russia, but it steeply increased after embargoes were placed on Russian oil, while keeping the price below the European Union-mandated price of $60 per barrel. Some of the refined petrol and other oil products were reportedly exported by Indian refineries.

On Friday, when there were reports that India’s oil imports from Russia were coming down, Trump had called it a “good step”, if true. He told reporters: “I understand that India is no longer going to be buying oil from Russia. That’s what I heard. I don’t know if that’s right or not. That is a good step. We will see what happens.”

Earlier, he wrote on Truth Social, “I don’t care what India does with Russia. They can take their dead economies down together, for all I care.” That figured in a war of words with former Russian President Dmitri Medvedev playing on the word “dead”, leading ultimately to Trump moving two nuclear submarines to strategic locations.

Russia could also retaliate against the punitive tariffs by shutting off the Caspian Pipeline Consortium line that transports Kazakh oil through Russia to western Europe. There is also the risk of the oil prices spiking if India, the world’s third-largest importer of oil, is forced to buy from the general market, which would also affect the US.

Meanwhile, Indian government sources have clarified that there is no pause on the oil imports from Russia. According to sources, “India’s energy purchases are driven by national interests and market forces. We do not have any reports of Indian oil firms halting Russian imports”.

MEA spokesperson Randhir Jaiswal said last week that “You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation. We are not aware of any specifics”. India sources its oil purchases based on global market offerings to meet its energy needs.

“Our ties with any country stand on their merit and should not be seen from the prism of a third country. As far as India-Russia relations are concerned, we have a steady and time-tested partnership,” said the MEA spokesperson.

-IANS

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Trump Formalises 25% Tariff On Indian Goods, Cites Trade Imbalance https://thecommunemag.com/trump-formalises-25-tariff-on-indian-goods-cites-trade-imbalance/ Fri, 01 Aug 2025 04:08:21 +0000 https://thecommunemag.com/?p=123195 As the deadline for tariffs neared, US President Donald Trump imposed the threatened tariff of 25% on India starting Friday as the prolonged negotiations appeared to have stalled. His executive order, issued late Thursday, did not include penalty tariffs on buying Russian energy or for BRICS membership, which he had also threatened. When Trump initially […]

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As the deadline for tariffs neared, US President Donald Trump imposed the threatened tariff of 25% on India starting Friday as the prolonged negotiations appeared to have stalled. His executive order, issued late Thursday, did not include penalty tariffs on buying Russian energy or for BRICS membership, which he had also threatened.

When Trump initially threatened the 25% tariff, India said defiantly that it “will take all steps necessary to secure our national interest”. In the order setting the tariff rates for various countries, he claimed he was acting because “large and persistent annual US goods trade deficits constitute an unusual and extraordinary threat to the national security and economy of the United States”.

The 25% tariff for India was higher than the rate ranging between 15% and 19% he imposed on most countries listed in the order, which takes effect at midnight (9.30 AM in India).

While India was one of the first countries to start negotiations with the US, the talks appeared to have foundered, and Trump made the threat of 25% on Wednesday, but later that day, he held out a ray of hope, saying, “We’re talking to India now, we’ll see what happens”. He also did not issue a formal letter to India as he had to other countries. But it appears that last-minute negotiations did not lower the tariffs.

While the negotiations were taking place, Trump repeatedly called Prime Minister Narendra Modi and India his friends. As recently as last week, he said that a deal was imminent. India’s Commerce Minister Piyush Goyal also sounded optimistic, saying last week that the negotiations were making “fantastic” progress. The part of his executive order that would apply to India said that some “trading partners, despite having engaged in negotiations, have offered terms that, in my judgment, do not sufficiently address imbalances in our trading relationship or have failed to align sufficiently with the United States on economic and national-security matters”.

The highest tariff among those in the order was for Myanmar, which was set at 41%, and the lowest was 10% for Brazil and Britain. Brazil’s rate was a surprise because Trump had threatened 50% over a dispute over Brazil’s prosecution of its former President Jair Bolsonaro.

Trump agreed to extend the deadline for Mexico in a last-minute reprieve, agreeing to continue negotiations. Canada, with which Trump is embroiled in a heated fight, did not appear on the order, but separately, he had set the tariff at 30%. Talks are continuing with China, and under a temporary arrangement set to expire on August 12, its rate is temporarily 30%, much lower than his initial threats of as much as 145%. His order set the tariff for Pakistan at 19%, and Sri Lanka and Bangladesh at 20%.

A major hurdle for India was the US’ insistence on opening the floodgates to US agriculture and dairy. That could have serious consequences for India’s agricultural sector, which employs nearly half the country’s working population. India’s statement responding to Trump’s threat alluded to this factor, saying, “The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs (Micro, Small, and Medium Enterprises)”.

While some, like the European Union and Japan, mollified Trump by offering to invest hundreds of billions of dollars in the US, India was not in a position to make offers of that magnitude. India also appears to have been caught in the heightened tension between Trump and Russia, after President Vladimir Putin refused to heed the US president’s call for a ceasefire in the Ukraine War. Trump brought up New Delhi buying Russian oil on Wednesday, and on Thursday, India was in the crossfire in a war of words between him and former Russian President Dmitry Medvedev, even though India had nothing to do with it.

In the Truth Social post attacking Mededev, he brought in India out of the blue: “I don’t care what India does with Russia. They can take their dead economies down together, for all I care”.

As he had for several months, he riled against the high Indian tariffs, having declared India the “Tariff King”, an appellation Finance Minister Nirmala Sitharaman has strongly refuted. In her budget in February, she substantially lowered the tariff on premium motorcycles that would cover Harley Davidson, the duties on which were Trump’s pet peeve since his first term.

Trump may have to take separate action on India’s pharmaceutical exports valued at $12.7 billion last year, as they form a significant portion of the generic medicines in the US, and any increase in prices would hit the already high medical costs. Asked about the penalty for buying Russia’s oil, which he had once said would be 100 per cent, by a reporter on Wednesday, he avoided answering it and instead talked of a penalty for membership of the BRICS.

If there is to be a penalty for buying Russian oil — known as a secondary tariff applying to all buyers — it will be linked to the deadline for Moscow to end the Ukraine War, which will probably be on August 7. Since China is also buying Russian energy, the imposition of secondary sanctions will be complicated as Washington and Beijing try to avoid an all-out trade war. Similarly, a BRICS penalty would also hit China.

-IANS

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India, US Continue Trade Negotiations As Trump Threatens 25% Tariff https://thecommunemag.com/india-us-continue-trade-negotiations-as-trump-threatens-25-tariff/ Thu, 31 Jul 2025 03:50:48 +0000 https://thecommunemag.com/?p=123021 President Donald Trump has said that India and the US were still negotiating a trade deal despite his threat to impose a 25% tariff, and a final decision may be known by the end of the week. “We’re talking to India now, we’ll see what happens,” he said on Wednesday, hours after he had threatened […]

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President Donald Trump has said that India and the US were still negotiating a trade deal despite his threat to impose a 25% tariff, and a final decision may be known by the end of the week.

“We’re talking to India now, we’ll see what happens,” he said on Wednesday, hours after he had threatened the 25 per cent tariffs and the 100 per cent penalty for buyers of Russian energy he had proposed. He said that India, which he asserted has one of the highest tariffs in the world, was now “willing to cut it very substantially.”

However, he was silent on the Russian penalty when asked by a reporter and instead spoke of the 10 per cent penalty he had proposed for BRICS members. Since he says negotiations are continuing, the morning threat appears to be a negotiating ploy and gives both countries wiggle room to reach an accord. He has also not issued a formal letter on the tariffs, as he has to some other countries. India had replied defiantly to the threat, saying the government “will take all steps necessary to secure our national interest.” India indicated that agriculture was likely a sticking point in the negotiations.

The statement said, “The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs (Micro, Small, and Medium Enterprises).” The US wants India to open its markets to US agriculture and dairy, which could impact its vast agriculture sector.

Trump and his officials, like Commerce Secretary Howard Lutnick, had spoken optimistically that India would be among the first to make a deal, but it hasn’t materialised. India was among the first countries to start trade negotiations with Washington on tariffs, and Trump had repeatedly said that an agreement was imminent, most recently last week.

The negotiations were making “fantastic” progress, India’s Commerce Minister Piyush Goyal said last week in a media interview in London. “I do hope we’ll be able to conclude a very consequential partnership,” he said. In its response, India’s Commerce Ministry said, “India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months.” “We remain committed to that objective,” it added.

Speaking to reporters at the White House, Trump called Prime Minister Narendra Modi “a friend of mine,” as he usually prefaces differences on tariffs. He said, nonchalantly, “It doesn’t matter too much whether we have a deal or whether we charge them a certain tariff, but you’ll know at the end of this week.” He repeated his tirade about India’s high tariffs, saying that while the US buys a lot from India, the US doesn’t sell as much there because of the tariffs.

India had the highest or one of the highest tariffs in the world, with levies going as high as 175 per cent, he said. When a reporter asked him about the penalty for buying Russian energy, he did not answer that and, instead, veered off into talking about BRICS and how it was “anti-United States.”

“India is a member of that, if you can believe it,” he said. “It’s an attack on the dollar, and we’re not going to let anybody attack the dollar,” he said. So, when it comes to India, he said, “It’s partially BRICS, and it’s partially the trade.” In the Truth Social post, Trump had said India has “always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine.”

“All things not good! India will therefore be paying a tariff of 25 per cent, plus a penalty for the above, starting on August first,” he wrote, capitalising parts of the post in his style.

-IANS

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Trump Announces US-Pakistan Deal To Develop ‘Massive Oil Reserves’, Suggests Exports To India Possible https://thecommunemag.com/trump-announces-us-pakistan-deal-to-develop-massive-oil-reserves-suggests-exports-to-india-possible/ Thu, 31 Jul 2025 03:43:55 +0000 https://thecommunemag.com/?p=123015 US President Donald Trump on Thursday (Indian time) declared that the United States has struck a deal with Pakistan to jointly develop what he described as “massive oil reserves”, with a suggestion that this oil could eventually be exported to India. The announcement came just a day after Trump imposed 25% tariffs on Indian goods […]

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US President Donald Trump on Thursday (Indian time) declared that the United States has struck a deal with Pakistan to jointly develop what he described as “massive oil reserves”, with a suggestion that this oil could eventually be exported to India. The announcement came just a day after Trump imposed 25% tariffs on Indian goods and warned of additional penalties over India’s continued oil and arms trade with Russia.

Posting on his social media platform, Truth Social, Trump wrote, “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 someday!”

The statement comes just after Trump announced 25% tariffs on Indian exports and hinted at further economic pressure in response to New Delhi’s continued engagement with Russia for crude oil and defence supplies. In his post, Trump also said he is engaged in negotiations with multiple countries seeking reductions in tariffs.

“We are very busy in the White House today working on trade deals. I have spoken to the leaders of many countries, all of whom want to make the United States ‘extremely happy’,” he said. He mentioned a meeting scheduled with the South Korean trade delegation and noted that Seoul currently faces a 25 per cent tariff rate. “They have an offer to buy down those tariffs. I will be interested in hearing what that offer is,” he added. Trump asserted that such deals would help reduce America’s trade deficit, promising a full report “at the appropriate time.”

Responding to a reporter’s question on the newly imposed Indian tariffs and broader tensions, Trump reiterated his dissatisfaction with India’s role in BRICS, a group of emerging economies comprising Brazil, Russia, India, China, South Africa and several recent entrants. “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,” Trump said. He indicated that ongoing discussions with India might yield clarity “by the end of this week.”

-IANS

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