Trump: US to lower import tariffs for India after reduction in Russian oil purchases
Kyiv • UNN
The United States of America plans to lower import tariffs for India. This is due to New Delhi's significant reduction in the volume of Russian oil purchases.
The United States of America plans to lower import tariffs for India. This was stated by US President Donald Trump during a press conference at the White House on Monday, according to UNN.
Details
According to him, Washington will at some point lower customs duties due to New Delhi significantly reducing its purchases of Russian oil.
"Now the tariffs for India are very high because of Russian oil, and they have stopped importing Russian oil. They have significantly reduced (purchases - ed.). Yes, we are going to lower the tariffs," the US president said.
Context
In August, US President Donald Trump imposed 50% tariffs on goods from India due to the country's purchase of Russian oil and weapons.
Subsequently, Indian oil refineries reduced imports of Russian oil by 50% after "productive trade negotiations" with the US. Washington had been pressuring India for several months to abandon Russian oil.
Last week, US President Donald Trump stated that his negotiations with Indian Prime Minister Narendra Modi were going successfully and confirmed his intention to visit India in the near future.