Rajan: India-Pak credit dispute, not Russian oil, caused Trump's tariffs

• Former RBI Governor Raghuram Rajan stated that US tariffs on India under Trump were not primarily due to Russian oil purchases.
• Rajan attributed the tariffs to "personalities" and a diplomatic disagreement over who deserved credit for de-escalating India-Pakistan tensions.
• Pakistan publicly credited Trump for the ceasefire, while India denied his involvement, leading to India receiving a 50% tariff and Pakistan 19%.
• Trump claimed he personally prevented a "nuclear" conflict between India and Pakistan by linking peace to trade deals.
• India consistently denied any third-party involvement in the ceasefire, with officials stating no US mediation occurred.

Why It Matters: Diplomatic slights, not oil, caused India's high US tariffs.