US May Lift 25% Tariff on Indian Goods, Trump Aide Hints at Green Signal

• US Treasury Secretary Scott Bessent indicated the US might remove the 25% tariff on goods from India.
• The tariff was imposed by the Trump administration in 2022 to deter India from purchasing Russian oil after the Ukraine war.
• Bessent stated at the World Economic Forum in Davos that the tariff has served its purpose.
• He noted that India's oil purchases from Russia have significantly decreased.
• The US is now exploring ways to remove the existing tariffs.

Why It Matters: US Treasury Secretary hints at removing 25% tariffs on Indian goods as India's Russian oil purchases drop.