As US President Donald Trump continues to use tariffs to push countries toward aligning with the country’s trade policies, External Affairs Minister S Jaishankar on Monday reiterated the need for a fair and multipolar global order.
His remarks hold significance as they come amid ongoing global tensions over Trump’s imposition of tariffs – effectively forcing countries to either strike a trade deal with the US or face steep export duties.
“We live in complicated and uncertain times. Our collective desire is to see a fair and representative global order, not one dominated by a few. That quest is often articulated as political or economic rebalancing,” he said at the BIMSTEC Traditional Music Festival in the national capital.
The EAM noted that traditions play a key role in strengthening identity and guiding national guidance. “Traditions are of particular value because ultimately they define identity. We must be assured about what we are if we want to be confident about shaping the future. For nations like us, traditions are truly a great source of strength,” Jaishankar stated.
Trump’s announcement on India tariffs
The US escalated its trade tensions with India recently by slapping 25 per cent tariffs on Indian exports and threatening penalties over New Delhi’s purchase of Russian oil and defence equipment.
On Monday, Trump again warned of "substantially" higher tariffs on India over its purchase of oil from Russia. In a social media post, Trump wrote, "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine."
"Because of this, I will be substantially raising the Tariff paid by India to the USA," he added.
Hours later, the Ministry of External Affairs (MEA) said in response that India will "take all necessary measures to safeguard its national interests and economic security."
“India has been targeted by the United States and the European Union for importing oil from Russia after the commencement of the Ukraine conflict. In fact, India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict. The United States at that time actively encouraged such imports by India for strengthening global energy markets stability,” it said.
“India’s imports are meant to ensure predictable and affordable energy costs to the Indian consumer. They are a necessity compelled by global market situation. However, it is revealing that the very nations criticising India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion,” the statement by MEA read.
It also called the targeting of India is unjustified and unreasonable.
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