As I speculates several days back, its economic sectoral access Trump wants in India's agricultural sector. Then it's energy, in which U.S. forced India to initially purchase during Biden Adminstration.
With neither Brazil and other major economics striking a deal; he's trying to dangle a threat infront of India thinking it might fold.
Today other tarriffs across the world are going into effect.
@kmc_chacko @koolzberg @Nilgiri @Meengla @Musings @Raj-Hindustani@vasanthm @hembo @Terracotta Warrior
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India’s Modi says he will “pay a heavy price” for not bowing to Trump trade threats
From CNN’s Aishwarya S Iyer and Lex Harvey
US President Donald Trump and Indian Prime Minister Narendra Modi attend a joint press conference at the White House in Washington, DC, on February 13.
Nathan Howard/Reuters
Indian Prime Minister Narendra Modi conceded Thursday that he may “pay a heavy price” as he defended his decision not to bow to US trade threats and face steep tariffs as a result.
“For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen and dairy farmers. I know personally, I will have to pay a heavy price for it, but I am ready for it,” he said.
Trump has been critical of what he sees as India’s protectionist trade policies as well as its continued purchases of Russian oil.
Goods from India are
subject to a 25% tariff and could also be subject to an additional 25% tariffstacked on top of that because of an executive order Trump signed Wednesday that seeks to penalize India for purchasing oil from Russia. That second tariff is slated to take effect on August 27.
Modi has been reluctant to cave to US demands to open up its economy to international competitors and halt Russian oil purchases.