The recent crucial meeting between US President Donald Trump and Russian President Vladimir Putin in Alaska failed to reach an agreement on ending or suspending the Ukraine war. The meeting received a lot of attention globally, especially in India, as India is a big importer of Russian oil and the outcome of the talks could impact its economic interests.
The US has already imposed a hefty 50 per cent tariff on goods imported from India, with a 25 per cent penalty on crude oil purchases directly from Russia. Experts believe these tariffs could affect India’s exports and put at risk nearly one per cent of its GDP.
These tariffs have been imposed by the US on India amid global political tensions as the US seeks to put economic pressure on Russia and also balance Asian strategic interests. The 50 per cent tariff imposed by Trump on Indian products is much higher than that of regional partners, leaving India economically unstable. Therefore, the Alaska talks have gained importance, and India is looking at it closely in terms of its energy security and trade relations.
Trump-Putin Alaska Summit: 5 Key Takeaways
- No concrete deal: No final or concrete agreement was reached on ending or suspending the Ukraine war. Trump said, “We’re not there yet,” but described the talks as “productive.”
- Further talks underway: Trump said he was discussing further steps with Ukrainian President Zelensky and NATO leaders.
- Tariffs on China temporarily halted: Trump said tariffs on China for buying oil from Russia would not be imposed for now, while a 50 percent tariff on India still remains.
- Putin praises Trump: Putin praised the “friendly” atmosphere of the talks and said Trump understood Russia’s national interests.
- Possibility of three-way meeting: Trump hinted at the possibility of a trilateral meeting between Putin, Zelensky and himself, although no details of the date and venue were given.
Also Read: Trump Says Russia Lost India As ‘Oil Client’; Hints At Relief On Secondary Tariffs
