US EditionIndia to cut Russian oil purchases, U.S. to slash tariffs as they near trade deal, Mint reports
The U.S. aims to reduce its $132 billion trade deficit with India and press for a gradual cut in India's Russian oil imports amid ongoing tariff negotiations.
- India and the United States are close to finalizing a trade agreement that may reduce U.S. tariffs on Indian goods to 15-16% from 50%, according to Mint.
- The proposed agreement focuses on energy and agriculture, involving India's gradual reduction of crude oil imports from Russia.
- Both nations aim to announce the deal during the upcoming ASEAN Summit, marking significant progress in India-U.S. trade relations since 2020.
47 Articles
47 Articles
Trump again claims India will 'stop' buying Russian oil by year-end, cites conversation with PM Modi
US President Donald Trump announced that India will stop purchasing Russian oil by the end of this year. He shared that he had an “absolutely great” conversation with Prime Minister Narendra Modi regarding the matter. This came days after the US President claimed that PM Modi promised him over a phone call that India would stop buying Russian oil, a claim that was later refuted by the MEA. "India has told me that they are going to stop buying oi…
India, US near major trade deal cutting tariffs to 15–16% if New Delhi will limit Russian crude imports
India and the United States are close to finalising a long-awaited bilateral trade deal that could sharply lower tariffs on Indian exports to about 15–16% from the current average of 50%
India nears deal to slash US tariffs on Indian imports to 15%-16%, Mint reports
India and the United States are nearing a long-stalled trade agreement that would reduce U.S. tariffs on Indian imports to 15% to 16% from 50%, India's Mint reported on Wednesday citing three people aware of the matter.
Modi Agreed to Reduce India’s Oil Purchases From Russia: Trump
President Donald Trump said on Oct. 21 that Indian Prime Minister Narendra Modi has agreed to scale back India’s imports of Russian oil in response to Russia’s ongoing invasion of Ukraine. Trump told reporters in the Oval Office that he spoke with Modi about the matter during a phone call on Tuesday. He said that their conversation primarily focused on U.S.–India trade relations. “We just have a good relationship, and he’s not going to buy much …
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