Donald Trump’s 30th July announcement of 25 per cent tariff on imports from India following New Delhi’s stubborn stand of not opening agriculture, dairy and shrimp markets for US export during five rounds of free trade talk has changed the world order. Later on 6th August additional penalty of 25 per cent was imposed on India for its energy and arms purchase from Russia. The additional tariff was to be effective from 27th August. US Vice President JD Vance recently indicated that the additional tariff can be rolled back if Russia Ukraine conflict comes to an end.
With an eye on piece Nobel Prize, Trump initiated to end the war and held a bilateral meeting on 15th August with Russian President Vladimir Putin at Alaska. Three days later, he held discussions with Vlodomeer Zelenskey Ukrainian President and other European leaders namely British PM, French President, German Chancellor, Italian PM, NATO Chief and EU Chief.
Russia’s demand was the territorial control on Donbas region (90% is already under their occupation), ruling out Ukraine’s entry to NATO as well as no deployment of foreign forces in Ukraine. European leaders were concerned about the security of Ukraine. Trump agreed to sell arms to EU, which can be security guarantee for Ukraine and also accepted to purchase drones manufactured in Ukraine. Zelensky was asked to hold a bilateral talk with Putin and work out the terms of the ceasefire to end the war. The bilateral talk between the two is still not in the sight, and thus rolling back 25 per cent penalty/ sanctions appears to be farfetched.