New Delhi [India]: Top Economist and Vice President of Observer Research Foundation, Gautam Chikermane, has sharply criticised US President Donald Trump for imposing 50 per cent tariffs on India on the pretext of buying Russian oil, calling it “hypocrisy” and “pure bullying.”
Speaking to ANI, economist Chikermane pointed out that Trump’s tariffs on India are “completely illogical,” stating that the US has a much bigger trade deficit with China, yet China gets lower tariffs than India.
Chikermane said, “Trump imposed 25 per cent on a random basis. In addition, he has imposed an additional penalty of 25 per cent because we are buying Russian oil, taking our total tariffs to 50 per cent. We are all trying to find logic in something which is completely illogical. He (Trump) said the tariffs were imposed because of a high trade deficit. China’s trade deficit with the US is 295 billion dollars. India’s 46, so China is about six times more than India and tariffs on China are 30 per cent. The deficit of the European Union is 226 billion dollars, which is five times more than India and the tariffs there are 15 per cent…”
Questioning the additional 25 per cent penalty imposed on India for buying Russian oil, he hit out at the United States, highlighting that China bought almost double the amount of Russian oil as India in 2024, yet faces no penalty.
Chikermane further accused the European Union of “financing” the Russian war against Ukraine, noting that the European Union bought $22 billion euros worth of gas from Russia, but instead of facing penalties, they are trying to impose sanctions on India.
He asserted, “In 2024. India bought 49 billion euros worth of Russian oil. How much did China by 78 billion euros? It’s almost double and yet there is no penalty on China. It’s only on India. In the same period, European Union bought 22 billion euros worth of gas and we are not talking about coal and other things here. How much penalty do they get known? On the contrary, they are trying to impose sanctions. If India buying Russian oil is financing Russia war, then EU financing Russia, is equally financing Russian war against Ukraine. With US, trade has increased upto 20 per cent ever since Trump has come, according to Putin. This is all hypocrisy; this is all bullying for people like us who function on policy, parameters. This is pure bullying. Dadagiri.”
On August 27, the 50 per cent tariff imposed by the US on India came into effect. The US President imposed 25 per cent tariffs initially and then imposed an additional 25 per cent on India as a punishment for buying oil from Russia.
Industry experts have also noted that 50 per cent tariffs will impact trade, especially in the sectors on which tariffs are imposed and that these sectors will suffer trade losses in the US, which will have an impact on industries such as textiles, Chemicals, and machinery. (ANI)
