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US Warns India of Higher Tariffs if Trump-Putin Peace Talks Fail. The United States has warned India that it could face additional tariffs if President Donald Trump’s upcoming meeting with Vladimir Putin fails to produce a peace deal. US Treasury Secretary Scott Bessent said secondary tariffs could rise if the talks in Alaska on Friday do not go well following earlier measures that imposed a 25% penalty on India for buying Russian oil and weapons. The US is pushing for a ceasefire between Russia and Ukraine, while warning of “severe consequences” if Moscow refuses to cooperate. Meanwhile, India’s increased purchases of Russian crude have strained trade relations with Washington, disrupting ongoing negotiations. Russian oil now accounts for up to 40% of India’s imports, compared to just 3% in 2021. Delhi insists it must buy the cheapest available oil to protect millions of low-income citizens from soaring energy costs.
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