The duty was removed at 12:01 a.m. Eastern Time on February 7.
US President Donald Trump yesterday lifted an additional 25-per cent tariff he had earlier imposed on goods from India over its purchases of Russian oil following a trade deal announced this week.
The duty was removed at 12:01 a.m. Eastern Time on February 7.
India has committed to stop directly or indirectly importing Russian oil and India has also said it will purchase US energy products.
“India has committed to stop directly or indirectly importing Russian Federation oil,” a presidential executive order said.
India has also said that it will purchase US energy products, “and has recently committed to a framework with the United States to expand defence cooperation over the next 10 years,” the order said.
The trade deal would also see the United States cutting reciprocal tariffs on Indian products to 18 per cent from 25 per cent earlier.
A joint statement released by the White House said India intends to purchase $500 billion worth US energy products, aircraft and parts, precious metals, technology products and coking coal over five years.
Fibre2Fashion (DS)
