US-India Trade Tensions Intensify Over Russian Oil Imports

White House Economic Advisor Kevin Hassett reiterated the Trump administration's disappointment with India's continued imports of Russian crude oil amidst escalating tariff battles. The US sees these imports as funding Russia's involvement in the Ukraine war, a stance Hassett hopes might see positive change.

President Donald Trump voiced concerns over India and Russia's alignment with China, casting doubts on Indo-US relations. Meanwhile, the US accused India of capitalizing on Russian oil commerce, while Indian officials criticized what they see as unjustified targeting compared to EU's Russian imports.

On another front, Hassett disclosed upcoming semiconductor tariff proposals for President Trump, signaling possible exemptions for US investors. Despite a lackluster jobs report, Hassett remains optimistic about economic growth, citing high capital spending and construction. These optimistic trends suggest potential revisions in job numbers.