U.S. Pressures India To Scale Back Russian Oil Imports As Trade Talks Advance

Benzinga

The U.S. may cut tariffs on Indian exports to 15–16% under a new trade deal tied to India curbing Russian oil imports. The pact could boost U.S. corn exports and expand market access as bilateral trade hits $132B.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02U.S. may smash tariffs on Indian exports to 15% to 16% as both nations near a trade deal

00:08that could see India reducing Russian oil imports, according to CNBC.

00:11The agreement expected to be finalized at the ASEAN Summit

00:14follows Trump's warning that India would face massive tariffs to continue buying Russian crude.

00:20New Delhi, the world's second largest buyer of Russian oil,

00:22has stressed that its import policies prioritize stability in energy markets.

00:25U.S. levied an additional 25% tariffs in August as a penalty for India's oil purchases,

00:31raising overall duties to 50%.

00:33The oil may also expand India's import quota for U.S. non-GMO corn

00:37and establish a review mechanism for future market access.

00:41Our lateral trade reached $132.2 billion at fiscal 2025, up 10% from a year earlier.

00:47For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended