US May Lift 25% Tariff on Indian Goods, Trump Aide Hints at Green Signal
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News18•24-01-2026, 11:50
US May Lift 25% Tariff on Indian Goods, Trump Aide Hints at Green Signal
- •US Treasury Secretary Scott Bessent indicated the US might remove the 25% tariff on goods from India.
- •The tariff was imposed by the Trump administration in 2022 to deter India from purchasing Russian oil after the Ukraine war.
- •Bessent stated at the World Economic Forum in Davos that the tariff has served its purpose.
- •He noted that India's oil purchases from Russia have significantly decreased.
- •The US is now exploring ways to remove the existing tariffs.
Why It Matters: US Treasury Secretary hints at removing 25% tariffs on Indian goods as India's Russian oil purchases drop.
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