Trump to 'Substantially' Raise Tariffs on India

Trade Relations & Tariffs - The US President's social media posts are creating uncertainty in trade talks with India [1] - The US President accuses India of buying Russian oil and reselling it, threatening to raise tariffs substantially, potentially to 25% [2] - The US President is escalating rhetoric against India regarding trade negotiations and Russia's actions in Ukraine [3] - It is uncertain whether the US President's actions are to gain leverage in trade negotiations or address Russia's compliance [4] - The US has imposed 39% tariffs on Switzerland due to a trade deficit [10] Geopolitical & Economic Implications - India seems to be finding alternative sources for oil purchases, mitigating the economic impact of potential US actions [4] - The US President is facing challenges with BRIC nations, including India, Brazil, and China [5] - Brazil is open to trade talks if treated as an equal [5] - The US relationship with China is in its own category, while negotiations with India have a long history [7] - US negotiators are not expected to meet with Indian counterparts until late August [10] Swiss Trade Situation - Switzerland is trying to find a way to satisfy the US President's demands to avoid tariffs [11] - Switzerland may offer large weapons purchases, particularly aircraft, or LNG and other energy deals [14]