New Delhi [India], November 12 (ANI): India must urge the United States to withdraw the 25 per cent “Russian oil” tariffs before proceeding with any trade agreement, stated a report by the Global Trade Research Initiative (GTRI).
According to GTRI, India should first complete its exit from sanctioned Russian oil, then secure a rollback of the 25 per cent “Russian oil” tariff to restore competitiveness, and only afterward resume balanced trade negotiations with the U.S. on equal terms.
GTRI stated, “India to first complete its exit from sanctioned Russian oil, then secure a rollback of the 25 per cent ‘Russian oil” tariff to restore competitiveness.”
The report added that India has already ended oil imports from sanctioned Russian firms, a step that President Donald Trump has acknowledged.
With Step 1 complete, India should now focus on securing the tariff rollback. Once Russian oil imports have been curtailed, India must press Washington to withdraw the 25 per cent tariff, which would reduce the overall U.S. duty burden on Indian goods from 50 per cent to 25 per cent.
This move would help boost competitiveness in key sectors such as textiles, gems and jewellery, and pharmaceuticals, without rushing into a full trade deal.
After the tariffs come down to 25 per cent, the report recommended that India resume trade talks with the U.S. for a balanced agreement, aiming for parity with partners like the European Union and targeting average industrial tariffs of about 15 per cent.
The report also advised India to wait for the U.S. Supreme Court’s verdict on the Trump tariffs. The Court is currently hearing a major case on whether the president has authority under the International Emergency Economic Powers Act (IEEPA) to impose such tariffs.
On November 11, 2025, President Donald Trump said the United States and India were “pretty close” to a trade deal and promised to lower tariffs on India.
He added that India had “stopped buying Russian oil very substantially” and that the tariffs would soon be brought down. (ANI)
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