The U.S. may soon remove its 25% penal tariff on Indian goods and cut reciprocal duties to 10–15% from 25%, India’s Chief Economic Adviser V. Anantha Nageswaran said Thursday. “My personal confidence is that in the next couple of months, if not earlier, we will see a resolution to at least the extra penal tariff of 25%,” he noted at an event in Kolkata, adding that reciprocal duties may also be lowered. His remarks follow “positive” and “forward-looking” trade talks between New Delhi and Washington earlier this week, raising hopes for a breakthrough after President Donald Trump imposed punitive tariffs in August over India’s purchases of Russian oil. The levy doubled India’s tariff burden to 50% as part of U.S. pressure on Moscow. Recently, Trump has adopted a more conciliatory tone, and a phone call with Prime Minister Narendra Modi signaled easing tensions, with Trump expressing optimism about finalizing a trade deal.
Manage Consent
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.
The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.