"Trump said he would bring down the tariffs from 25% to 18% in return for India agreeing to stop Russian crude purchases. New Delhi will also start to reduce its import taxes on U.S. goods to zero and buy $500 billion worth of American products, Trump said. "This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!" Trump wrote in a Truth Social post Monday."
"Trump didn't categorically mention if he will remove the additional 25% tariff on India for purchase of Russian crude, but a spokesman at the U.S. Embassy in New Delhi late Monday confirmed that "the final tariff will be 18%." This effectively means that the penal tariff will be dropped, in a respite for Indian exporters who had been facing the heat due to a combined steep tariff as high as 50%."
India and the United States reached an understanding that reduces U.S. import tariffs on Indian goods to 18% from 25% while New Delhi will move to lower import taxes on U.S. goods toward zero and commit to large purchases of American products. President Trump tied the tariff reduction to India stopping purchases of Russian crude and said the step would help end the war in Ukraine. Prime Minister Modi expressed delight. Opposition members raised concerns about effects on sensitive sectors such as agriculture. The change removes a penal tariff that had driven combined duties as high as 50%.
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