ANI News Big relief for India coming soon! U.S to cut 25% tariff on India for reducing Russian oil purchase?

In major development, U.S. Treasury Secretary Scott Bessent has indicated to lift the 25% tariff imposed on India. In a conversation with ‘Politico’ at the World Economic Forum in Davos, Bessent’s remark signals positive sign. At present, India still continues to face a total of 50% tariffs imposed by Trump administration. Initially, U.S. levied 25% tariffs, later added 25% extra tariffs on India for purchasing Russian oil. Bessent highlighted that U.S. imposed 25% extra tariffs for buying Russian oil which has now “collapsed”. Calling it as “a success”, Secy Bessent has indicated to imagine a path to take 25% tariffs off. Meanwhile, U.S. President Trump also praised PM Modi as “close friend & respected leader”. Notably, U.S. President Trump further highlighted that India-U.S. ‘going to have a good deal’.

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