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India-US relations: There is hope from US President Donald Trump that India will get major relief in tariffs. Last year, he had announced to impose a ‘punitive tariff’ of 25% on India on buying Russian oil. On this, Trump had recently said that India has now stopped buying oil from Russia. Now his Finance Minister (Treasury Secretary) Scott Besant has said that the objective of stopping India from buying Russian oil has been achieved.

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Scott Besant said in an interview that America had imposed 25 percent tariff on India so that India could be prevented from buying oil from Russia. Besant also claimed that the purpose for which this tariff was imposed had now been accomplished. He has called it a big success for America. The Treasury Secretary of the Trump administration said that due to the strict action taken by America to impose 25 percent tariff, there has been a huge decline in the purchase of Russian oil by India and this purchase has completely collapsed.

Scott Besant further said that at present 50 percent tariff is still applicable on India, but the Trump administration now seems to be in favor of removing the 25 percent tariff. “The tariffs are still in place, but I think there is now a path to removing them,” he said. However, Besant also criticized European countries for not taking strict action against India like the US and claimed that Europe did not impose tariffs or penalties because they wanted to make a big trade deal with India.