India Walks Away From US Trade Talks | Subhash Garg Rejects Trump’s Oil Claims

.India has pulled out of the latest round of trade talks with the United States. The decision highlights not only tariff disputes but also the widening gap between the two nations on market access.

US President Donald Trump recently accused India of “profiteering” from discounted Russian oil. However, India’s former Finance Secretary Subhash Garg firmly rejected the claim. He explained that India saves only around $2.5 billion a year, rather than the $25 billion Trump often cites. Therefore, Garg dismissed Trump’s remarks as “political theatre.”

Although Russia does sell oil at lower prices, additional costs quickly reduce the benefit. In fact, freight, insurance, and payment hurdles eat away much of the discount. Thus, Garg argued that India does not chase profit but instead works to secure energy supplies. After all, the country imports more than 85% of its crude needs.

Meanwhile, trade tensions have continued to grow. The US demands that India cut tariffs on agriculture, digital services, and industrial products. India, however, has refused. It argues that Washington also protects its own industries. For example, the US keeps duties on steel and aluminum and limits work visas for Indian IT workers.

Experts warn that the dispute could eventually damage broader ties. Both nations already cooperate in defense, technology, and Indo-Pacific strategy. Yet unresolved trade conflicts may, in the long run, slow down economic cooperation.

Looking ahead, India plans to diversify its energy sources further. Along with Russia, it will continue buying from the Middle East and Africa. Unless both sides agree on fair trade rules, analysts believe the tariff battle will remain and cast a shadow on the partnership.