'Hope US Won't End Up Punishing India': JPMorgan CEO On Trump Tariffs
6 Articles
6 Articles
JPMorgan CEO Jamie Dimon has urged the US to understand the impact on India's refineries and supply chain before imposing a 100% tariff on Russian oil purchases. He argues that ill-conceived sanctions could impact India as well as the global oil market, prices, and India-US economic relations.
'Hope US Won't End Up Punishing India': JPMorgan CEO On Trump Tariffs
Speaking at the JPMorgan India Investor Conference, Dimon said the US should understand how Russian oil is used by Indian refiners and engage with India before deciding how proposed sanctions and tariffs would be implemented.
India reduced Russian oil procurement by 16.5 per cent in August, and imports could decline even further in September, with local NHPs seeking alternative supplies against the backdrop of a threat of US duties, while China increased oil imports from Russia.
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Don’t end up punishing India: JP Morgan CEO urges Trump on punitive tariffs on Russian crude
Jamie Dimon, CEO and chairman of JP Morgan Chase, the world’s largest bank in terms of market capitalisation urged Washington that it should assess how Indian refiners use Russian crude and not merely slap punitive tariffs on Indian goods after Donald Trump set into motion a law laying down steep tariffs on buyers of Russian crude oil.
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