Official: Trump Says Tariffs On India Will Come Down!

The President of United States, Donald Trump has been taking several radical decisions with regard to foreign trade policies. In this context, he has imposed an unprecedented 50% trade tariff on India which has severely affected the export sector. 

However, the latest developments are suggesting that Trump has finally decided to go easy on the trade tariffs against India as he hinted about a possible deduction in tariff percentages. 

In his trademark dismissive style, Trump stated “We’re making a deal with India, a much different deal than we had in the past. So right now, they don’t love me, but they’ll love us again. We’re getting a fair deal, just a fair trade deal. We had pretty unfair trade deals.”

Then came the crucial statement from Trump to stated that India has reduced oil purchase from Russia, and this will warrant a natural reduction in the tariffs that U.S. has been imposing. 

Right now, tariffs on India are very high because of Russian oil. They have reduced purchases from Russia. So yeah, we will be bringing the tariffs on India down, Trump said. 

While there is no clear timeline on when Trump would be reducing the tariffs, Trump very much confirmed that the reduction would happen soon, hopefully.