Another blow to Modi government, US cancels trade talks with India scheduled for August
The trade dispute between the United States and India began to intensify, with the United States canceling trade talks with India scheduled for August.
According to Indian media, the US trade delegation has canceled its visit to India scheduled for August 25-29, after which US-India trade talks have stalled.
It should be remembered that the United States had warned India and threatened additional tariffs on the issue of buying oil from Russia.
Even after the US threat, India did not announce any decision to stop purchasing oil from Russia, after which the US announced an additional 25% tariff on India. After the additional 25% tariff, the total US tariff on India has increased to 50%.
Regarding the tariff, the White House said that imposing additional duties on goods imported from India is appropriate and necessary because India is importing oil directly and indirectly from Russia.
A few days ago, the US Treasury Secretary also warned that if the talks between Trump and Putin fail, the total tariffs on India will exceed 50%.