US cuts tariffs on Indian goods to 18% as India agrees to halt Russian oil buys
Latest news on WhatsApp أجدد الأخبار على واتسابU.S. President Donald Trump announced a trade deal with India that would cut U.S. tariffs on Indian goods to 18% from 50%, in exchange for India halting purchases of Russian oil and lowering trade barriers, according to Reuters.
The announcement followed a call with Indian Prime Minister Narendra Modi. Trump said India would buy oil from the United States and could potentially buy Venezuelan oil as well.
A White House official told Reuters the U.S. would also rescind an additional 25% “punitive” duty tied to India’s Russian oil purchases, which had been stacked on top of a separate 25% “reciprocal” tariff rate.
Reuters noted that key details remain unclear, and as of late Monday the White House had not issued the paperwork typically required to make the tariff changes official.
Tags
You May Also Like
Authors
-
Tahani Elghazaly5277 Posts
