In line with GTRI, India ought to first full its exit from sanctioned Russian oil, then safe a rollback of the 25 per cent “Russian oil” tariff to revive competitiveness, and solely afterward resume balanced commerce negotiations with the U.S. on equal phrases.
GTRI said, “India to first full its exit from sanctioned Russian oil, then safe a rollback of the 25 per cent ‘Russian oil” tariff to revive competitiveness.”
The report added that India has already ended oil imports from sanctioned Russian companies, a step that President Donald Trump has acknowledged.
With Step 1 full, India ought to now deal with securing the tariff rollback. As soon as Russian oil imports have been curtailed, India should press Washington to withdraw the 25 per cent tariff, which would scale back the general U.S. obligation burden on Indian items from 50 per cent to 25 per cent.
This transfer would assist enhance competitiveness in key sectors reminiscent of textiles, gems and jewelry, and prescribed drugs, with out dashing right into a full commerce deal.After the tariffs come all the way down to 25 per cent, the report really useful that India resume commerce talks with the U.S. for a balanced settlement, aiming for parity with companions just like the European Union and concentrating on common industrial tariffs of about 15 per cent.The report additionally suggested India to attend for the U.S. Supreme Court docket's verdict on the Trump tariffs. The Court docket is at present listening to a significant case on whether or not the president has authority beneath the Worldwide Emergency Financial Powers Act (IEEPA) to impose such tariffs.
On November 11, 2025, President Donald Trump stated the US and India had been “fairly shut” to a commerce deal and promised to decrease tariffs on India.
He added that India had “stopped shopping for Russian oil very considerably” and that the tariffs would quickly be introduced down. (ANI)
