US cuts tariffs on India to 18% India agrees to end Russian oil purchases
WASHINGTONNEW DELHI, Feb 2 (Reuters) - U.S. President Donald Trump on Monday said he had agreed on a trade deal with India that slashes U.S. tariffs on Indian goods to 18% from 50% in exchange for India lowering trade barriers, stopping its purchases of Russian oil and buying oil instead from the U.S. and potentially Venezuela. A White House official told Reuters that the U.S. was rescinding a punitive, 25% duty on all imports from India over its purchases of Russian oil that had stacked on top of a 25% “reciprocal” tariff rate. U.S.-listed shares of major Indian companies rallied on the news. IT consulting firm Infosys was up 3.53% in afternoon trading, consultancy Wipro rose 7%, HDFC Bank gained 3. 🔗 Leggi su Internazionale.it
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