08-February-2026
Economy News
 
Trump scraps 25% India tariffs over Russian oil- Interim trade deal framework released
07-Feb-2026

US President Donald Trump on Friday signed an executive order removing the extra 25 per cent tariff that had been imposed on all imports from India. The tariff was added earlier because India continued to buy oil from Russia, something the US administration had strongly objected to. The White House confirmed the decision, saying the additional duty linked to India’s Russian oil purchases has now been withdrawn. Trump removes 25 percent tariff on Indian imports linked to purchase of Russian oil This move comes just days after India and the United States finalised a long-pending trade deal, bringing an end to nearly a year of trade tensions between the two countries. In the past, Trump had repeatedly accused India of helping Moscow by continuing to buy Russian oil. He had said that these purchases indirectly supported Russia’s military actions in Ukraine, even though Europe and US kept buying the Russian oil and energy.

News Source:- https://www.financialexpress.com/business/news/trump-signs-executive-order-ending-25-tariff-on-india-over-russian-oil-interim-trade-deal-framework-released/4134227/