The ongoing tension between India and America is expected to end soon. President Donald Trump has said that he is close to signing a trade deal with India. Earlier, there were reports that America has decided to reduce the tariff to 16 percent. However, neither India nor the US government has officially announced this.
Trump, who arrived in South Korea on Wednesday, said, “…If you look at India and Pakistan, I am close to doing a trade deal with India. I have a lot of love and respect for Prime Minister Narendra Modi… Our relationship is very strong.” This statement of Trump indicates that the trade tension between the two countries may soon reduce. America has been targeting India over the purchase of Russian oil.
Last week, there were reports that India and the US have agreed on two of the three issues. There were also reports that India had denied the US access to the Indian agricultural market, stalling talks between the two countries. It was being said that America had agreed to 16 percent tariff after India agreed to reduce the purchase of Russian oil. It is noteworthy that these speculations were being made after the phone conversation between Prime Minister Modi and President Trump.
Claim of complete oil shortage
Trump once again claimed on Saturday that India is going to stop buying oil from Russia. He stressed that India is “absolutely” reducing its purchases of Russian oil, while China will also reduce it “significantly”. Speaking to reporters on Air Force One en route to Malaysia on Saturday, Trump said India was “absolutely” reducing purchases of Russian oil. Trump and his team have consistently alleged that India is profiting from the purchase of Russian oil and is financially helping President Vladimir Putin through its purchases. The US had initially imposed 25 percent tariffs and penalties on India, followed by an additional 25 percent.
