Trump’s tariff cut brings relief in India despite scant deal details
U.S. President Donald Trump’s decision to slash tariffs on Indian goods to 18 per cent from 50 per cent has sparked relief and a market rally in India, even though both governments have released few formal details of the new trade deal. Trump announced on social media that Washington had agreed the cut in exchange for New Delhi halting imports of Russian oil and lowering trade barriers to U.S. products. India has so far not issued a detailed joint statement, but officials say the country has committed to buying more American petroleum, defence equipment and aircraft and to partially opening its protected agriculture sector and cutting tariffs on imported cars. The U.S. president said India’s purchases of American goods would rise to over 500 billion dollars across energy, coal, technology, farm and other products, without specifying a timeframe. India’s exports […]