Trump calls India, Russia ‘dead economies’ as new tariffs loom

Trump calls India, Russia ‘dead economies’ as new tariffs loom
Trump calls India, Russia ‘dead economies’ as new tariffs loom

Hello and welcome to the details of calls India, Russia ‘dead economies’ as new tariffs loom and now with the details

Nevin Al Sukari - Sana'a - US President Donald Trump gave no indication in either announcement about what penalties would be imposed for India’s continued trade with Russia, which is under massive US and Western sanctions over its invasion of Ukraine. — Reuters pic

WASHINGTON, Aug 1 — President Donald Trump labelled Russia and US ally India “dead economies,” indicating that his threat to ramp up tariffs on New Delhi will now go ahead.

In a social media post sent at midnight Wednesday, Trump said “I don’t care what India does with Russia. They can take their dead economies down together, for all I care.”

“We have done very little business with India, their Tariffs are too high, among the highest in the World. Likewise, Russia and the USA do almost no business together. Let’s keep it that way,” he added.

The statement on Truth Social followed Trump’s announcement Wednesday that India will face 25 per cent tariffs, while also announcing an unspecified “penalty” over New Delhi’s purchases of Russian weapons and energy.

Trump, 79, said the tariffs would kick in on Friday.

He gave no indication in either announcement about what penalties would be imposed for India’s continued trade with Russia, which is under massive US and Western sanctions over its invasion of Ukraine.

On Tuesday, Trump had said the United States will impose further sanctions on Russia in 10 days — which would be the end of next week — if it does not make moves to end the three-year war.

He has previously threatened that new measures could mean “secondary tariffs” targeting Russia’s remaining trade partners, such as China and India. This would further stifle Russia, but would risk significant international disruption.

The warning was mocked by Dmitry Medvedev, a former Russian president and key ally to current leader Vladimir Putin, who responded that Trump was issuing a “theatrical ultimatum” and that “each new ultimatum is a threat and a step towards war.”

In Wednesday’s midnight post, the US president slammed Medvedev, calling him “the failed former President of Russia, who thinks he’s still President, to watch his words.”

“He’s entering very dangerous territory!” Trump warned.

The 25 per cent tariff on India would be marginally lower than the rate announced in April, but is higher than those of other Asian countries that have struck preliminary trade agreements with Washington.

India, the world’s most populous country, was one of the first few major economies to engage the Trump administration in broader trade talks.

But six months later, Trump’s sweeping demands and India’s reluctance to fully open its agricultural and dairy sectors have so far prevented New Delhi from sealing a deal. — AFP 

 

 

These were the details of the news Trump calls India, Russia ‘dead economies’ as new tariffs loom for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Summer camp scare: UK man held after suspected poisoning of eight children
NEXT Trump-Harvard crossfire: University accused of censorship after scrapping Palestine-themed journal issue

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]