The United States has levied increased tariffs on India due to its ongoing oil purchases from Russia. These tariffs have escalated to 50 percent. In a recent development, US Commerce Secretary Howard Lutnick expressed his views, taking aim at major trading partners. He suggested that India and Brazil should adjust their market practices to avoid conflicting with American interests, emphasizing the need for these nations to ‘React Correctly’ in their dealings with the US.
Lutnick stated that countries such as Switzerland, Brazil, and India need to be “fixed,” urging them to open their markets and cease any actions that might be detrimental to the US.
Earlier, Lutnick had characterized India’s resistance in trade discussions as mostly symbolic, anticipating India’s return to negotiations within a couple of months. He also pointed out that Indian business entities would likely pressure Prime Minister Narendra Modi’s government to come to terms with the United States.
The US official additionally denounced India’s extensive acquisition of discounted crude oil from Russia since the onset of the Ukraine conflict, terming it as wholly inappropriate and absurd. He insisted that India must determine its position in the matter.
Drawing on economic leverage, the US official underscored the fact that the US remains the premier consumer market worldwide. “We are the consumers of the world,” he declared. “People have to remember, our $30 trillion economy is the world’s consumer. Therefore, they have to return to the customer because we all know that in the end, the customer is always right.” These remarks surfaced amidst ongoing trade talks between the US and India, further amplified by the new tariffs the US has imposed on India.