The US Finance Minister has warned that the Trump administration may impose additional secondary fees on India. The final decision of this will depend on the result of the meeting between President Donald Trump and Russian President Vladimir Putin. Speaking to Bloomberg TV, Finance Minister Scott Besant said that if the negotiations in Alaska do not yield positive results on Friday, the US can impose more secondary ban on India. Besant said in an interview to Bloomberg TV that we have imposed a secondary fee on Indians who bought Russian oil. And I can see that if things are not good, then restrictions or secondary fees may increase.
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Trump recently imposed a 25 percent fine on Indian imports and imposed an additional 25 percent fee on the purchase of oil and weapons from Russia. The US administration has accused New Delhi of indirectly funding Moscow’s war in Ukraine. Now with the total fee to 50 percent, India has strongly opposed this decision. The government has described the fees as unfair, inappropriate and indiscriminate and defended its oil imports as an issue of national energy security. In a separate statement to Fox News, Besant described India as a little stubborn in business talks. The conversation between New Delhi and Washington began with a hindrance earlier this month, when Trump announced the postponement of discussion on Russian trade and allegedly other concerns.
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With the expectation of American negotiators to reach India on August 25, business talks may begin again. This is exactly two days before the implementation of 50 percent tariff on Indian goods. However, experts believe that India’s attitude to secure their agriculture and dairy markets will remain a major issue of controversy in the talks. Trump and his Russian counterparts will meet at Alaska on Friday to discuss ways to end war in Ukraine. The US President, who is trying to mediate the ceasefire among the warfare countries, has warned that it will have serious consequences if Moscow does not agree on the peace agreement.
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Trump said that the main objective of the talks was to make a peace agreement to end the ongoing struggle for more than three years. He described this summit as an experience-based meeting to assess the wishes of the Russian leader’s ceasefire. He had earlier suggested that the peace agreement could include exchange of some areas. This idea has been opposed by Ukraine, who has said that he cannot violate his constitution on regional issues. Ukraine’s President Zelanski has confirmed that there would be no peace agreement without Kiev’s involvement in the talks and emphasized that the country would not give any area to Russia. European authorities also fear that the face-to-face meeting that Ukraine will not participate, the result may be in favor of Russian goals.