Trump Aide Hints at Rolling Back India Tariffs Amid Russian Oil Purchase Collapse
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Firstpost•24-01-2026, 14:50
Trump Aide Hints at Rolling Back India Tariffs Amid Russian Oil Purchase Collapse
- •US Treasury Secretary Scott Bessent suggests rolling back 25% tariffs on India.
- •The move follows a reported sharp decline in India's purchases of Russian crude oil.
- •Tariffs were imposed in two phases: 25% for trade imbalances and another 25% as punitive for Russian oil buys.
- •Bessent claims the 25% tariff was a "huge success" in reducing India's Russian oil imports.
- •India, however, maintains that its purchases from Russia continue and rejects US pressure on energy ties.
Why It Matters: Trump aide hints at easing India tariffs due to reported drop in Russian oil imports, despite India's denial.
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