US Hypocrisy? 50% Tariff On India, Zero On EU That Bought Russian Oil – Read full story below.
US PresidentDonald Trump ‘s proclamation of 25 per cent extra tariffson Indian good trip immediate diplomatic pushback from New Delhi and raise question astir Western consistence on Russian free energy sanction .
President Trump has sign an executive director orderimposing a steep 50 per cent duty on Indian import , mention India ‘s continue purchase of Russian oil.India now face the high US duty burdenglobally , tie with Brazil at 50 per cent . Other state in the upper berth bracket include Switzerland at 39 per cent , Canada and Iraq at 35 per cent , and China at 30 per cent .
Republic of india name the determination “ unjust , undue and unreasonable , ” and accused the United States of selectively target India for action that are , in fact , beingness undertake by several other countries-including US allies .
“ The United States has in Holocene years target India ‘s oil import from Russia . We rich person already make clear our place on these issue , include the fact that our import are establish on marketplace factor and make with the overall aim of guarantee the free energy security of 1.4 one million million people of India . It is hence highly unfortunate person that the US should take to enforce extra duty on India for action that several other state are besides pickings in their own subject involvement , ” India ‘s statement read .
“ India volition return all action necessity to protect its subject interest . ”
On July 30 , Trump publically warn of duty hike target Indian good , accuse India of sabotage Western attempt to pressure level Moscow .
The US is India ‘s single-largest exportation marketplace , buying $ 87 one million million worth of good in 2024 . In comparing , India import $ 41 one million million in good from the US during the Lapp time period . That instability generate a $ 46 one million million trade excess in India ‘s favor .
Republic of india has repeatedly argue that the West is use sanction and economical punishment inconsistently . Piece state the like Hungary ( an EU fellow member ) go on to importation Russian petroleum done grapevine , India is beingness punish for the Lapp .
Capital of the russian federation react to the US move , railroad siding with India and condemn Washington ‘s duty .
“ Sovereign state rich person the right to take their own trade spouse , ” Kremlin interpreter Dmitry Peskov state intelligence federal agency AFP .
Piece India is facing steep US duty , China has frankincense far avoid comparable punishment contempt beingness the large consumer of Russian free energy .
Chinese import of Russian oil rosebush in 2024 . Petroleum oil from Russia make up 21.5 per cent of China ‘s sum petroleum import , an addition from the 2018-2021 norm of 15.5 per cent . This was drive in portion by Chinese “ teapot ” refiner , which are small-scale , in private own facility that depend to a great extent on dismiss supply .
In add-on to oil , China besides import large measure of Russian LNG . Harmonize to Chinese customs duty information mention by intelligence federal agency TASS , LNG import from Russia rosebush 3.3 per cent stopping point twelvemonth to 8.3 1000000 metric function metric ton . There rich person besides be discussion about a major gas grapevine that would carry Russian gas to China but it has not be finalize yet .
Piece the European Union talk of film editing economical necktie with Russia , information show that its sum trade with Russia drop from 257.5 one million million euro ( $ 297.4 one million million ) in 2021 to 67.5 one million million euro ( $ 77.9 one million million ) in 2024 , and key free energy import continue .
The Centre for Research on Energy and Clean Air , a Finnish think army tank , estimate that since the 2022 invasion of Ukraine , the EU has pay Russia $ 105.6 one million million for gas alone . This sum peer approximately 75 per cent of Russia ‘s armed forces disbursement in 2024 .
To boot , EU import of Russian LNG rosebush by 9 per cent in 2024 compare to the old twelvemonth . Mineral fuel go on to represent the majority of the EU ‘s Russian import , follow by nutrient and raw material .
Harmonize to a study by the Centre for Research on Energy and Clean Air , in June this twelvemonth , Belgium ‘s purchase of Russian LNG rosebush by 12 per cent in volume footing month-on-month , total EUR 300 mn .
Contempt Washington ‘s hard-line stance , the US besides keep a express trade human relationship with Russia . In 2024 , isobilateral trade was worth $ 5.2 one million million — lower berth than the $ 36 one million million record in 2021 but still important presumption the linguistic context . The US continue to importation Russian chemical , among other good .
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