The United States has placed a 25% tariff on Indian goods due to India’s oil purchases from Russia. In response to the increasing tariffs, US Treasury Secretary Scott Bessent shared insights on the state of US-India economic relations. He highlighted the ongoing tariff disagreements between the two nations.
Addressing the potential trade deal, Bessent mentioned that a deal is yet to be reached. He noted that India’s approach to the negotiations has been positive, and there was an expectation that a trade agreement could be finalized by May or June. He further emphasized the importance of a balanced approach.