If Russia fails to end the war in Ukraine within 50 days, India fears that the tariff could cause a spike in oil prices, analysts say.

India and the US are engaged in fast-paced talks for an interim trade deal, with the tariff rate being a key point of negotiation. Despite potential c

NEW YORK (IANS)- President Donald Trump on July 14 threatened to impose a 100 percent secondary tariff on countries that import oil, gas, and uranium from Russia. He stated he was “very unhappy” with Moscow’s intransigence in finding an end to the war with Ukraine.

India believes it is premature to create a contingency plan without clarity on the scope and impact of the US's reciprocal tariffs. ⦁ India and the EU will resume negotiations on their free trade agreement in early September.

The US threat to slap penal tariffs on countries buying Russian oil may sour India’s love affair with those barrels as the benefit of disco.

The official added that the Indian team is in Washington for the fifth round of negotiations on the proposed bilateral trade agreement (BTA).

President Trump on Tuesday said his administration will impose a 19 percent tariff on Indonesia, lowering the import tax rate he slapped on the nation last week, which was set to go into effect

Trump’s threats of secondary tariffs are “never going to go anywhere” as long as he is unwilling to impose costs on Moscow directly, Keir Giles, a senior fellow at the London-based Chatham House think tank, told NBC News Monday.

Indian government waits to assess US tariff impact before creating industry backup plan, negotiations ongoing for trade agreement.