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Trump Cuts India Tariffs After Modi Agrees to Stop Russian Oil Purchases
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Trump Cuts India Tariffs After Modi Agrees to Stop Russian Oil Purchases

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Sarah MitchellSarah Mitchell
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Trump Cuts India Tariffs After Modi Agrees to Stop Russian Oil Purchases

US President Donald Trump has announced a trade deal with India, reducing tariffs on Indian goods to 18% after Prime Minister Narendra Modi agreed to halt purchases of Russian oil. The move aims to ease tensions between the two countries and comes after months of pressure from the US on India to cut its reliance on Russian crude. The deal marks a significant development in the relationship between the two nations, with Trump hailing it as a major breakthrough.

Key Points

  • US President Donald Trump announces a trade deal with India to reduce tariffs on Indian goods to 18%
  • The deal comes after Indian Prime Minister Narendra Modi agrees to stop buying Russian oil
  • The US had previously imposed 25% "reciprocal" tariffs on many Indian products, plus an additional 25% for New Delhi's purchases of Moscow's oil
  • India had emerged as a major buyer of Russian oil after the start of the Ukraine war, providing Moscow with a crucial export market
  • The deal is expected to increase US oil exports to India, with Trump saying that India will buy more from the US and potentially Venezuela
  • The move is seen as a significant development in the relationship between the US and India, with Trump hailing it as a major breakthrough
  • The deal is also expected to have implications for the global energy market, with the US seeking to reduce Russia's influence
  • India's decision to stop buying Russian oil is seen as a major concession, with the country having previously been a significant buyer of Russian crude
  • The deal is expected to be finalized in the coming weeks, with the US and India working to implement the agreement

Background

The US and India have been negotiating a trade deal for several months, with the issue of Russian oil purchases being a major sticking point. India had emerged as a major buyer of Russian oil after the start of the Ukraine war, providing Moscow with a crucial export market. The US had been pressing India to cut its reliance on Russian crude, with Trump imposing tariffs on Indian goods in an effort to pressure New Delhi into changing its policy. According to a report by Reuters, the US had been seeking to reduce Russia's influence in the global energy market. As noted by France 24, the deal marks a significant development in the relationship between the two nations. The Irish Times reports that the deal is expected to have significant implications for the global energy market. The Yahoo News article also highlights the significance of the deal, stating that it will help to reduce Russia's influence in the global energy market.

The issue of Russian oil purchases has been a major point of contention between the US and India, with the US seeking to reduce Russia's influence in the global energy market. According to MSN, India had been a significant buyer of Russian crude, with the country providing Moscow with a crucial export market. The Union-Bulletin reports that the deal is expected to increase US oil exports to India, with Trump saying that India will buy more from the US and potentially Venezuela. As stated by Tanvi Madan, senior fellow at the Brookings Institution's Center for Asia Policy Studies, the deal is a significant development in the relationship between the US and India.

Analysis

The deal between the US and India is seen as a major breakthrough, with the US seeking to reduce Russia's influence in the global energy market. According to Farwa Aamer, Director of South Asia Initiatives at the Asia Society Policy Institute, the deal is expected to have significant implications for the global energy market. The MSN article reports that the deal is expected to increase US oil exports to India, with Trump saying that India will buy more from the US and potentially Venezuela. As noted by David Lawder and Aftab Ahmed, the deal marks a significant development in the relationship between the US and India. The Yahoo News article also highlights the significance of the deal, stating that it will help to reduce Russia's influence in the global energy market.

The deal is also expected to have implications for the relationship between the US and India, with the two countries seeking to strengthen their ties. According to Trump, the deal is a major breakthrough, with the US seeking to reduce Russia's influence in the global energy market. The Irish Times reports that the deal is expected to have significant implications for the global energy market. As stated by Modi, the deal is a significant development in the relationship between the US and India.

What's Next

The deal between the US and India is expected to be finalized in the coming weeks, with the two countries working to implement the agreement. According to Reuters, the deal is expected to increase US oil exports to India, with Trump saying that India will buy more from the US and potentially Venezuela. The MSN article reports that the deal is expected to have significant implications for the global energy market. As noted by France 24, the deal marks a significant development in the relationship between the US and India.

The implementation of the deal is expected to be a complex process, with the two countries working to finalize the details of the agreement. According to Yahoo News, the deal is expected to have significant implications for the global energy market. The Union-Bulletin reports that the deal is expected to increase US oil exports to India, with Trump saying that India will buy more from the US and potentially Venezuela.

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