President Donald Trump has hinted that tariffs on India may be reduced soon
The post President Donald Trump has hinted that tariffs com. President Donald Trump has hinted that tariffs on India may be reduced soon, as longtime loyalist Sergio Gor is sworn in to take up the office of ambassador in New Delhi. Trump said Gor’s top priority would be to promote investment in key U. S. industries and increase U. S. energy exports. President Trump said during Gor’s swearing-in ceremony on Monday that tariffs on India are high because they have been buying oil from Russia. He, however, added that the tariffs will be reduced soon since India has substantially decreased its imports of Russian crude oil. However, market research firm Kpler found that India’s imports of Russian oil remained almost the same at 1. 59 million barrels per day (mbd) in October and September. The tank tracker added that 1. 73 million barrels per day (mbd) of October Russian oil exports are heading to India so far. Another 302, 000 barrels per day (b/d) did not have a destination, but a portion of it could also be shipped to India. However, Kpler says it is still too early to get a clear picture for November. Trump hopes Gor will strengthen U. S.-India ties Trump said he is looking at Gor to strengthen the strategic partnership between the U. S. and India. He added that one of the U. S. ambassador’s top priorities would also be to expand security cooperation. The Senate confirmed Gor’s nomination as U. S. ambassador to India on October 7, and he arrived in New Delhi several days later. Gor met with Prime Minister Narendra Modi to discuss trade, defense, technology, and mineral resources. Alexandra Hermann of Oxford Economics believes a political ambassador (Gor) rather than a traditional diplomat is needed to speed things up. However, she noted that it also raises the risk that they could be less protected if the countries cut ties or if.
