US Signals Possible Rollback of 25% Tariffs on India Over Russian Oil Purchases
Background: The US Tariff Regime on Indian Goods The United States currently imposes a 50% tariff burden on certain Indian goods , structured as follows: 25% tariff imposed as a penalty for India’s purchase of Russian crude oil 25% tariff imposed under the US’s so-called “reciprocal measures” , citing Indian duties on American products However, a large category of Indian exports , particularly electronics and select industrial goods , remains exempt from these tariffs. The punitive tariff regime emerged in the context of the Ukraine conflict , with Washington attempting to deter third-country energy trade with Russia through economic pressure rather than UN-backed sanctions. US Treasury Secretary’s Statement: “A Path to Take Them Off” On Saturday, US Treasury Secretary Scott Bessent publicly indicated that there is a “path” to remove the 25% tariffs imposed on India for buying Russian oil. Bessent described the sanctions as a “success” , stating: “We put 25% tariffs on India for b...