'We’ll cross that bridge':Jaishankar on potential US 500% tariff over Russia ties

Amid fresh talks for a Tariff on India, External Affairs Minister S Jaishankar on Wednesday said that India remains unconcerned about the possibility of the US imposing a 500 per cent tariff and will deal with the issue only when it arrives.

Republican Senator Lindsey Graham and 80 co-sponsors, are planning to table a bill to punish nations that continue trading with Russia such as China and India by slamming 500 percent tariff on them, to weaken Russia's war economy. This in the hope that Moscow will move to peace talks or cease further aggression in Ukraine.

During a press conference in Washington, Jaishankar said, “Any development … is of interest to us if it impacts our interest or could impact our interest. So, we have been in touch … Our concerns on energy, security have been made conversant to him. So, we’ll then have to cross that bridge when we come to it, if we come to it.”

Graham has said that the proposed legislation will impose “bone-breaking sanctions” on Russia and its trading partners.

This development comes amid the ongoing India-US trade negotiations that are set for July 9, when the current pause on reciprocal tariffs is set to expire. Following which 26 per cent tariff is likely to kick in. India’s chief negotiator Rajesh Agarwal and his team are extending their stay in Washington for discussions, as talks are stuck in both directions.

"I think we are going to have a deal with India … and if they do that, we are going to have a deal for much less tariffs," said Trump.

Since 2022, Russia has become one of the biggest trade partners for India, with New Delhi importing more than 36 per cent of of its crude oil needs from Moscow, and saving approximately $13 billion in the process between 2022 and 2024.