Beijing “firmly opposes” Washington’s high tariffs on Delhi, according to Chinese ambassador to India Xu Feihong, who also urged for increased collaboration between China and India. Since the US had long benefited from free trade, Xu compared it to a “bully” and claimed that it was now using tariffs as a “bargaining chip” to demand “exorbitant prices” from other countries.
The United States has threatened to increase tariffs on India by up to 50%. China is adamantly against it. On Thursday, Xu stated, “Silence only gives the bully more confidence. Trump levied 25% tariffs and a 25% penalty on India earlier this month for purchasing weapons and oil from Russia. On August 27, the new tariff will take effect.
Negotiations for a trade agreement have been hampered by Delhi’s increased imports of cheap Russian crude since the conflict in Ukraine.
India, a significant energy importer, has justified its imports of Russian oil, claiming that in order to shield millions of impoverished Indians from growing prices, it must acquire the cheapest crude available. Additionally, it noted that in order to stabilize global energy markets, the Biden administration had instructed India to purchase Russian oil. India-China relations seem to be thawing quickly against the backdrop of Delhi’s precarious trade relations with Washington.
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