United States President Donald Trump signed an executive order eliminating a 25% tariff on Indian goods that he previously imposed on New Delhi for importing Russian oil.
In addition, Washington and New Delhi issued a joint statement, announcing that India would eliminate tariffs on all US industrial goods, as well as a "wide range" of agricultural products. The US would apply a levy of 18% on Indian goods, including textiles, among others, whereas the duties on "certain aircraft and aircraft parts" manufactured in India would be removed. Moreover, India pledged it would buy $500 billion of US energy products, military hardware, precious metals, and technology over the next 5 years.
On Tuesday, Trump said he had a phone call with Indian Prime Minister Narendra Modi, who agreed to halt imports of Russian oil. Modi subsequently hailed the trade agreement reached with the US.
https://breakingthenews.net/Article/Trump-drops-25-duty-on-India-for-buying-Russian-oil/65626020
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