India is 'Maharaja in tariffs', US trade advisor says
Peter Navarro accuses Delhi of running a profiteering scheme while China envoy "firmly opposes" Washington's levies on India
White House senior counselor for trade and manufacturing Peter Navarro speaks to reporters outside of the West Wing of the White House on August 21, 2025. (Photo: Getty Images)
WHITE HOUSE trade adviser Peter Navarro criticised India as being a "Maharaj" in tariffs and claimed it operated a "profiteering scheme" by using discounted Russian crude oil, as a war of words between India and the US continued to escalate.
Navarro's comments came as India’s foreign minister, S Jaishankar, said the US had asked New Delhi to help stabilise global energy markets by buying Russian oil.
India was "cosying up to" Chinese president Xi Jinping, Navarro added.
Meanwhile, China’s ambassador to India, Xu Feihong, said Beijing "firmly opposes" Washington's steep tariffs on Delhi and called for greater co-operation between India and China, BBC reported.
According to the broadcaster, Xu likened the US to a "bully" and blamed Washington for benefiting from free trade.
However, the US was now using tariffs as a "bargaining chip" to demand "exorbitant prices" from other nations, the Chinese diplomat was quoted as saying.
Relations between New Delhi and Washington have become strained after US president Donald Trump doubled tariffs on Indian goods to 50 per cent, including a 25 per cent additional duties for India's purchase of Russian crude oil.
Navarro told reporters in the US, “Prior to Russia's invasion of Ukraine in February 2022, India virtually bought no Russian oil... It was like almost one per cent of their need. The percentage has now gone up to 35 per cent.”
Earlier this week, Navarro wrote in the Financial Times criticising India for its procurement of Russian crude oil.
He dismissed the argument that India needs Russian oil to meet its energy requirement, saying the country acquired cheap Russian oil before making refined products, then sold on at premium prices in Europe, Africa and Asia.
"It is purely profiteering by the Indian refining industry," Navarro said.
"What is the net impact on Americans because of our trade with India? They are Maharaj in tariff. (We have) higher non-tariff barriers, massive trade deficit etc - and that hurts American workers and American business," according to him.
“The money they get from us, they use it to buy Russian oil which then is processed by their refiners,” he added.
"The Russians use the money to build arms and kill Ukrainians and Americans tax-payers have to provide more aid and military hardware to Ukrainians. That's insane.
"India does not want to recognise its role in the bloodshed," Navarro said.
Though the US imposed an additional 25 per cent tariff on India for its energy ties with Russia, it has not initiated similar actions against China, the largest buyer of Russian crude oil.
Defending its purchase of Russian crude oil, India has maintained that its energy procurement is driven by national interest and market dynamics.
India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February 2022.
Consequently, from a 1.7 per cent share in total oil imports in 2019-20, Russia's share increased to 35.1 per cent in 2024-25, and it is now the biggest oil supplier to India.
£1.3m needed to join Britain’s top 10% of wealthy families
Average worker would need 52 years of savings to match elite wealth
South East wealth nearly triple the North East
Rising wealth divide in UK
British families now need total wealth of £1.3 million to enter the country’s wealthiest 10 per cent, according to new research that highlights the growing financial divide in post-pandemic Britain. The Resolution Foundation’s ‘Before the Fall’ report reveals that Britain’s stock of wealth continued to grow during the pandemic, reaching a new record high of 7.5 times GDP.
Whilst relative wealth inequality has remained high, the absolute wealth gaps between rich and poor families have grown sharply following the unprecedented mix of economic shocks and policy interventions during the Covid-19 pandemic.
The report reveals that a typical worker would need to save 52 years’ worth of their earnings to join the wealthiest 10 per cent. This shows how building wealth has become nearly unachievable for ordinary workers, with riches now concentrated amongst those who already own homes and have large pension pots. The wealth gap between the richest and middle-income households now stands at £1.3 million per adult, showing how the distance between rich and poor has grown dramatically.
Regional wealth divide
The wealth divide extends across regions, with stark disparities between the prosperous South and struggling North. Median wealth per adult in 2020-22 stood at £290,000 in the South East, compared to just £110,000 in the North East – a gap of £180,000.
This regional inequality reflects decades of uneven economic development, with London and the South East benefiting from higher property values and greater access to high-paying jobs, whilst northern regions continue to face lower house prices and fewer economic opportunities.
Wealth concentration persists
Molly Broome, senior economist, at Resolution Foundation said, “Soaring wealth and an acute need for more revenue has prompted fresh talk of wealth taxes ahead of the Budget next month. But with property and pensions now representing 80 per cent of the growing bulk of household wealth, we need to be honest that higher wealth taxes are likely to fall on pensioners, Southern homeowners or their families, rather than just being paid by the super-rich,”.
The findings paint a picture of a nation where wealth accumulation has increasingly become concentrated amongst those who already own property and have pension savings, making it harder for younger generations and those without existing assets to climb the wealth ladder.
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