Under the proposed interim trade deal, the US has lowered tariffs on India from 50% to 18%. In August last year, Trump had imposed a 25% reciprocal tariff on India and an additional 25% penal tariff for India’s crude oil purchases from Russia. Under the proposed interim trade deal, the US has lowered tariffs on India from 50% to 18%. In August last year, Trump had imposed a 25% reciprocal tariff on India and an additional 25% penal tariff for India’s crude oil purchases from Russia.
