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  5. Trump Reduces India Tariffs Following Agreement to Cease Russian Oil Purchases

Trump Reduces India Tariffs Following Agreement to Cease Russian Oil Purchases

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Trump announced on Monday he would lower tariffs on Indian goods if India promised to stop buying Russian oil. However, India still imports about 1.5 million barrels of Russian oil each day—more than a third of its total imports—despite the tariffs.

  1. US
    Donald Trump
    Republican Party
    1. He [Modi] agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela.
    2. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!
    3. Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%.
  2. US
    Brooke Rollins
    1. New US-India deal will export more American farm products to India's massive market, lifting prices, and pumping cash into rural America.
  3. IN
    Narendra Modi
    Indian Government
    1. I look forward to working closely with him to take our partnership to unprecedented heights.
    2. Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%.
    3. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement.
  4. IN
    Nilesh Shah
    Kotak Mahindra AMC
    1. Let us hope that it is a win-win deal for both the countries as they have lot to gain through cooperation.
    2. While devil is in the details, it removes a hanging sword over rupee, equity and rates market.
  5. US
    Rachel Ziemba
    Center for a New American Security
    1. Eighteen percent puts it near the level for Southeast Asian goods into the US.
  6. US
    Scott Lincicome
    CATO Institute
    1. India has been slow-walking these trade talks for months, and the terms here are so vague that they could be anything from major to nothingburger.
  7. GB
    Farwa Aamer
    Asia Society Policy Institute
    1. Even though it has and will change its oil import structure away from Russia, India would still want to keep relations steady.
  8. IN
    Tanvi Madan
    Brookings Institution
    1. It is possible that the Indian trade agreement with the EU... incentivized Washington to get to yes.

sources

  1. 1.Le Monde
  2. 2.Yahoo Finance
  3. 3.Al Jazeera
  4. 4.CNN
  5. 5.CNBC
  6. 6.Hindustan Times
  7. 7.The Korea Herald
  8. 8.DW News
  9. 9.The New York Times
  10. 10.France 24
  11. 11.The Irish Times
  12. 12.Los Angeles Times

perspectives

  1. 1.US under Donald Trump
  2. 2.US Foreign Policy
  3. 3.US Economy
  4. 4.Inflation
  5. 5.Rare-Earth Elements
  6. 6.World Economy
  7. 7.US-India relations
  8. 8.Mexico under Claudia Sheinbaum
  9. 9.US-EU relations
  10. 10.United States–Mexico–Canada Agreement
  11. 11.Protectionism
  12. 12.Mining industry

countries

  1. 1.IndiaIN
  2. 2.Russian FederationRU
  3. 3.United StatesUS
  4. 4.Venezuela, Bolivarian Republic ofVE
  5. 5.UkraineUA
  6. 6.ChinaCN
  7. 7.PakistanPK
  8. 8.Iran, Islamic Republic ofIR
  9. 9.BrazilBR
  10. 10.CanadaCA
  11. 11.United KingdomGB
  12. 12.JapanJP

organizations

  1. 1.White House
  2. 2.European Union
  3. 3.Truth Social
  4. 4.Kpler
  5. 5.Lukoil
  6. 6.Rosneft
  7. 7.Asia Pacific Foundation of Canada
  8. 8.Asia Society Policy Institute
  9. 9.Brookings Institution
  10. 10.CATO Institute
  11. 11.Census Bureau
  12. 12.Center for a New American Society

persons

  1. 1.Donald TrumpUS
  2. 2.Narendra ModiIN
  3. 3.Vladimir PutinRU
  4. 4.Nicolás MaduroVE
  5. 5.Arvind SubramanianIN
  6. 6.Farwa AamerGB
  7. 7.Hardeep Singh Puri
  8. 8.Jamieson GreerUS
  9. 9.Jared KushnerUS
  10. 10.Jayati GhoshIN
  11. 11.Nilesh ShahIN
  12. 12.Piyush GoyalIN

technicals

  1. 1.Liberation Day
Trump Reduces India Tariffs Following Agreement to Cease Russian Oil Purchases