Trump Rules Out Tariff Relief for India Amid Russian Oil Dispute
US President Donald Trump said on Tuesday he is not considering lowering tariffs on India, a week after doubling levies on the country’s imports to 50% in response to its Russian oil purchases. “We get along with India very well,” Trump noted, but criticized the trade relationship as “one-sided” due to what he called some of the world’s highest tariffs. The move surprised Indian officials after months of negotiations with Washington.
U.S. trade negotiators have long been frustrated by India’s protectionist policies and high duties. Initially, Trump imposed a 25% tariff on Indian exports but raised it to 50% last week, impacting over 55% of goods shipped to the U.S., India’s largest export market.
Source: Trading Economics