Following a notable thaw in strained U.S.–India trade relations, Prime Minister Narendra Modi has responded positively to U.S. President Donald Trump’s recent overture, expressing eagerness to engage in dialogue aimed at resolving lingering trade issues. President Trump recently announced on his social media platform that the United States and India are continuing discussions to tackle...
Former US President Donald Trump on Monday claimed that India has offered to cut tariffs to zero, but said, “It’s getting late.” He criticized the long-standing trade imbalance between the two nations, stating that India purchases most of its oil and military equipment from Russia and very little from the US. Trump, in a post...
Washington: US President Donald Trump has suggested that China might encounter secondary sanctions or increased tariffs for purchasing Russian oil. On Wednesday (local time), the US President imposed an additional 25% tariff on India specifically related to its acquisition of Russian oil. At a press conference at the White House, the US President was questioned...
Reserve Bank of India Governor Sanjay Malhotra stated on Wednesday that the increase in US tariffs is unlikely to significantly affect the Indian economy unless retaliatory tariffs are imposed. During a press conference following the monetary policy announcement, the RBI Governor remarked, “The ongoing uncertainty regarding US tariffs may not have a substantial impact on...
On Monday, India defended its energy trade with Russia following accusations from U.S. President Donald Trump, who claimed that New Delhi was benefiting from discounted Russian oil and threatened to impose higher tariffs. The Ministry of External Affairs issued a strong statement asserting that India’s imports are essential for providing affordable energy to its citizens,...