Trump trims India tariffs to 18% after Modi agrees to halt Russian oil imports
TL;DR
US President Donald Trump said the United States will cut India’s tariffs from 50% to 18% after Narendra Modi allegedly agreed to stop buying Russian oil, a move that also includes a pledge for India to increase purchases of American goods; Modi hinted that Made in India products will face an 18% tariff. Analysts expressed skepticism about the $500 billion Buy American claim and questioned whether India will truly zero its tariffs for US goods, noting India’s still-strong oil ties with Russia and the likelihood that tariff reductions will be more limited in practice.
- Trump to slash India tariffs after Modi ‘agrees’ to stop buying Russian oil Financial Times
- Trump slashes tariffs on India after Modi agrees to stop buying Russian oil CNN
- Trump says U.S. and India reached trade deal, will lower tariffs immediately CNBC
- US cuts tariffs on India to 18%, India agrees to end Russian oil purchases Reuters
- Lower than Pakistan, China: In trade deal with US, India secures a favourable tariff rate Times of India
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