Expert: India-US trade deal's first phase to eliminate 25% Russian oil tariff

• Expectations for India-US trade deal progress rose after a phone call between PM Modi and President Trump.
• International trade expert Abhijit Das anticipates the 25% penal tariff on Russian oil will be eliminated in the first phase of the deal.
• Das also expects India to reduce its retaliatory tariffs to approximately 15-16% as part of the initial agreement.
• Modi and Trump reviewed strategic partnership progress and agreed to accelerate cooperation across trade, technology, energy, defense, and security.
• Major hurdles for the deal include agriculture, particularly US health certifications for dairy, and potential disagreements over digital trade models.

Why It Matters: It signals progress in India-US trade, potentially removing a key oil tariff.