US may hold back secondary tariffs: Trump

Washington: US President Donald Trump on Friday claimed Russia lost India as one of its oil clients after Washington announced a penalty on New Delhi over the purchases but indicated that he may not impose such secondary tariffs on countries continuing to procure Russian crude oil.
The President's remarks came even as New Delhi is yet to confirm any halt in oil purchases from Moscow after Washington announced a 25 per cent duty in addition to a 25 per cent tariffs on Indian goods last month. The additional duty is scheduled to come into effect on August 27. The US had threatened sanctions on Moscow and secondary sanctions on countries that buy its oil if no moves are made to end the war in Ukraine. China and India are the top two buyers of Russian oil. "Well, he (Russian President Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot...And if I did what's called a secondary sanction, or a secondary tariff, it would be very devastating from their standpoint. If I have to do it, I'll do it. Maybe I won't have to do it," Trump said, as he departed for Alaska for a high-stakes meeting with his Russian counterpart Vladimir Putin.



















