Big Relief for India as Donald Trump Lifts 25% Tariff Linked to Russia Oil Imports

Washington: US President Donald Trump has given a big relief to India and removed the 25 percent tariff imposed on the purchase of oil from Russia. He says that New Delhi has taken such steps in recent months, which have increased trust in the relations between the two countries.

According to Trump, India has been assured to stop importing oil directly or indirectly from Moscow and will now turn to America for energy needs. This decision was taken on this basis.

What did Trump say in his order?

In an executive order issued on Friday, Trump said that this step has been taken after reviewing information and recommendations received from senior officials. He said that India has shown better coordination with America in national security, foreign policy and economic matters.

In view of this, it was decided to remove the additional duty imposed on goods coming from India. Simply put, this is a big relief for Indian exporters.

Is oil the only reason or are there other agreements also?

The matter is not limited to oil only. Both the countries have agreed to increase cooperation in energy as well as defense sector. A framework has been prepared to increase defense cooperation for the next 10 years, which will further strengthen strategic relationships. That means this decision is part of an effort to take both trade and security together.

What changes were revealed in the joint statement?

The joint statement between India and the US said that India will remove tariffs on many American industrial and agricultural products. This includes many products such as animal feed, red sorghum, tree nuts, fresh and processed fruits, soybean oil, wine and spirits. In return, the US will also reduce tariff rates on many Indian goods and consider eliminating some products completely, especially those that are not made there.

What is the larger meaning of this decision?

This decision is a sign of new warmth in India-US trade relations. With the removal of tariffs, business will become easier and import-export between the two countries may increase. It can be said that this is not just tax relief, but a new chapter of trust and partnership.