Trade Relations between US and India - US concerns over trade deficit with India, citing higher tariffs and non-tariff barriers that negatively impact American workers and businesses [1] - India uses revenue from trade with the US to purchase Russian oil, raising further concerns [1] India's Stance and Response - India will continue to buy oil from wherever it gets the best deal, despite potential penalties [2] - India views itself as unfairly singled out regarding secondary tariffs, pointing to China as a larger importer of Russian crude [4] - India is maintaining its autonomy and balancing alliances by continuing to import Russian energy supplies [4] US Tariff Threat and Negotiations - The US is threatening to impose 50% tariffs on India [2][3][6] - There's no guarantee the White House will offer trade concessions to India [3] - Trade talks have stalled, particularly concerning US agricultural products [6] - India has hired a lobbying firm with close ties to the White House to advance trade talks [6] - The US has nominated an ambassador to India, potentially indicating progress in trade relations [6] Bloomberg Economics Analysis - Bloomberg Economics analysts suggest India will continue importing Russian oil to secure energy supplies and keep domestic prices low, which are important for its growth [3]