The Trump administration is dropping a 25% additional tariffs imposed on Indian imports over its purchases of Russian oil, in addition to lowering a country-specific tariff to 18% from 25%, reported Reuters quoting a White House official on Monday.
“We are also dropping the 25% tariff given India’s agreement to stop buying Russian oil,” the official said.
U.S. President Donald Trump announced the changes in a Truth Social post following a call with Indian Prime Minister Narendra Modi, but did not explicitly address the 25% tariff he imposed in August to pressure New Delhi to stop buying Russian oil.