Amid ongoing trade negotiations between India and the US, a key official in the Donald Trump-led administration has hinted that the administration may consider lowering the existing 50% tariffs on imports from New Delhi by half.
Treasury Secretary Scott Bessent during an interview claimed that refineries in India have significantly cut down on the purchase of Russian oil, an issue which was cited as reason for the US doubling tariffs on India back in August last year.
“We put 25% tariffs on India for buying Russian oil. And the Indian purchases, by their refineries, of Russian oil have collapsed. That is a success,” Bessent said in an interview with Politico posted on Friday.
He further acknowledged that the tariffs on India remain imposed but hinted that the US admin may take them off. “The tariffs are still on. I would imagine there is a path to take them off,” Bessent said.
In August 2025, when Trump was on a tariff slapping spree for many countries, he had doubled the duties on Indian imports to 50%, a move he attributed to India's energy ties with Russia.