Indian Finance Minister Nirmala Sitharaman on Wednesday took a veiled dig at the US, asserting that tariffs have weaponised trade.
"Trade is getting weaponised through tariff, through many other measures and India will have to negotiate its way carefully in this, and not just take care of tariff but I think overall our economy strength is what is going to give us that additional advantage," she said at the Times Network's India Economic Conclave 2025.
She underscored that trade was no longer free and fair, as countries were now targeting nations for their independent stands, strategic autonomy in India's case.
"India can be lectured saying you (India) are very inward-looking, you are a tariff king and so on. But tariff has been weaponised," she added.
It is worth mentioning that the current American administration has imposed 50% tariffs on Indian goods entering the US, which includes a 25% punitive levy on account of India's imports of crude oil from Russia.
India has described these measures as "unfair, unjustified and unreasonable", highlighting that Washington continues to maintain trade ties with Moscow.
"The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India," the country's Ministry of External Affairs (MEA) said in a statement in August in the aftermath of President Donald Trump's government announcing 25 percent additional tariffs on Indian exports to the US.
"It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest," the statement added.