Modi-Trump Call Controversy: US Commerce Secretary Blames India for Stalled Trade Deal

Economy
C
CNBC Awaaz•09-01-2026, 11:41
Modi-Trump Call Controversy: US Commerce Secretary Blames India for Stalled Trade Deal
- •US Commerce Secretary Howard Lutnick claims India-US trade deal failed because PM Modi didn't call Donald Trump.
- •Lutnick stated India was uncomfortable making the direct call, missing the opportunity despite groundwork being laid.
- •The US is considering a 'Sanctioning Russia Act of 2025' allowing up to 500% tariffs on countries buying Russian oil, approved by Trump.
- •India, a major buyer of Russian oil, faces significant economic risk as the US is its largest trade partner.
- •Existing US tariffs have already impacted Indian exports, and a 500% tariff could severely damage key sectors.
Why It Matters: A US official blames PM Modi for a stalled trade deal, raising concerns amid potential 500% tariffs on Russian oil buyers.
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