Did Trade between the US and Russia Increase by 20% under Trump?
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Synopsis
In a significant turn of events, Russian President Putin revealed that trade between the US and Russia has surged by 20% during Trump's administration. As tariffs loom over India for purchasing Russian energy, the implications of this trade growth may redefine international relations. What does this mean for the future of US-Russian partnerships?
Key Takeaways
- Trade between the US and Russia increased by 20% during Trump's administration.
- Tariffs on India for Russian energy purchases could impact international relations.
- Putin highlighted vast potential for cooperation in various sectors.
- Secondary tariffs on India may take effect soon, influencing its energy market.
- Trump recognizes the benefits of economic collaboration with Russia.
New Delhi/Moscow, Aug 16 (NationPress) As US President Donald Trump specifically targeted India with tariffs on its purchases of Russian energy, Russian President Vladimir Putin remarked during their meeting in Alaska that trade between the US and Russia has seen a remarkable increase of 20 percent under the current administration.
Previously, Trump had warned of a 25 percent penalty on India for its oil transactions with Russia.
“By the way, under the new US administration, our bilateral trade has been on the rise. So far, it is a symbolic figure, but still, the trade is 20 percent higher. What I am saying is that we have many interesting areas for cooperation,” stated Putin.
“It is evident that the Russian-US business and investment partnership holds vast potential. Both nations have much to offer each other in terms of trade, energy, digital and high technologies, as well as space exploration,” he added.
Putin went on to highlight the importance of collaboration in the Arctic and the renewal of regional relationships, particularly between the Russian Far East and the US West Coast.
According to the Russian news agency TASS, Trump recognizes that economic collaboration with Russia can be advantageous for Washington. "The summit in Alaska demonstrated that the US acknowledges its benefits from economic cooperation with Russia," the source revealed.
In the meantime, Trump has suggested that the US may refrain from implementing secondary tariffs against India for its Russian energy purchases.
While speaking to Fox News aboard Air Force One on the way to Alaska, Trump mentioned that the US might not enforce secondary tariffs on nations that persist in buying Russian crude oil. "Well, he (Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 percent of the oil. China, as you know, is doing a lot...,” Trump stated.
“And if I have to implement what's known as a secondary sanction or a secondary tariff, it would be extremely damaging from their perspective. If I must do it, I will. Perhaps I won't have to,” he added.
The secondary 25 percent tariffs on India are expected to take effect from August 27.
Earlier this week, US Treasury Secretary Scott Bessent indicated that if “things don't go well” between Trump and Putin at the Alaska summit, then sanctions on India for its Russian oil purchases could escalate.
Point of View
It is crucial to approach this situation with an unbiased lens. The reported 20% increase in trade between the US and Russia under Trump presents an opportunity for potential collaboration. However, with the rise of tariffs on India, it is vital to consider how these geopolitical maneuvers will impact both economies and international relations moving forward.
NationPress
19/08/2025
Frequently Asked Questions
What percentage did US-Russia trade increase under Trump?
Trade between the US and Russia increased by 20% under the Trump administration.
What are the implications of the tariffs on India?
The tariffs could strain India's energy imports from Russia and impact its economic relations with the US.
What potential collaboration areas did Putin mention?
Putin highlighted opportunities in trade, energy, digital technologies, and space development.
When are the secondary tariffs on India expected to take effect?
The secondary tariffs on India are expected to come into effect from August 27.
How does Trump view economic cooperation with Russia?
Trump acknowledges that economic cooperation with Russia can be beneficial for the US.
