Good news for India has come from America. US President Donald Trump has announced that he will reduce tariffs on India by half or 50%. Trump also made it clear that Russian oil purchases were the main reason for doubling the tariffs on India. Now he has announced a reduction in these high tariffs (US tariffs on India).
Donald Trump said, "Right now India's tariffs are very high because of Russian oil. But they have now reduced their purchases of Russian oil."
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The US President further said that because of this, we will also reduce the tariffs imposed on India. Earlier, Trump had hinted at a thaw in trade relations with India, saying that we are very close to a trade agreement with India and the high tariffs imposed on Indian goods could be reduced soon.
It is noteworthy that Donald Trump has repeatedly made statements in the last few days alleging that India has reduced or stopped buying Russian oil. Moreover, Trump has also been seen praising Prime Minister Narendra Modi. However, India has not yet confirmed any such claim.
It is worth noting that Donald Trump initially imposed a 25% reciprocal tariff on India but suddenly increased it to 50% a few months later. Trump accused India of financially supporting Vladimir Putin's Ukraine war by buying Russian oil and weapons. Not only Trump but also his ministers have been constantly targeting India on this issue.