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India EU Trade Deal: The Trump administration has imposed 50 percent duty on India, which includes 25 percent duty imposed on New Delhi’s purchase of Russian oil. India and the European Union are going to announce the completion and finalization of Free Trade Agreement (FTA) negotiations on January 27. These talks started in 2007.
India and EU can seal their free trade agreement.Washington. America’s anger over the Russia-Ukraine war and oil politics is now at its peak. US Finance Minister Scott Bessant has scolded the European countries. Besant said that America has imposed a huge tariff of 25% on India for buying oil from Russia, but European countries are doing exactly the opposite. They are going to finalize a trade deal with India. Besant made a scathing attack on Europe saying that they were funding the war going on against themselves by buying refined Russian oil from India.
‘Europe is funding a war against itself’
In an interview given to ABC News, Besant exposed Europe’s dual policy. He said, “Just think, what happened last week? We taxed India and Europe is making a trade deal with them.” Besant explained that Russia sends its crude oil to India. That oil is refined in India and then sold to Europe. Technically, Europe is buying refined product, which is actually Russian oil. Besant said, “They (European countries) are financing a war against themselves.”
Strict action by Trump administration: Tariff up to 50%
America has taken strict steps against India. The Trump administration has imposed a total duty of 50 percent on India. Out of this, 25 percent duty has been imposed only because New Delhi is continuously buying oil from Russia. Besant claimed that under the leadership of President Donald Trump, America will end the Russia-Ukraine war. He also said that America has made more sacrifices in this matter than European countries.
Big announcement may be made on January 27
This statement has come at a time when India and the European Union (EU) are close to a historic agreement. There is news that on January 27, India and EU can finalize their Free Trade Agreement (FTA). This conversation between these two was going on since 2007, which is about to be completed now. What is bothering America is that while it is putting pressure on India, Europe is increasing friendship with India.
About the Author
Rakesh Ranjan Kumar has more than 10 years of experience in digital journalism. Before joining News18, he has worked in Live Hindustan, Dainik Jagran, Zee News, Jansatta and Dainik Bhaskar. Currently he h…read more