In a bid to extract concessions from New Delhi in months-long commerce talks, Donald Trump introduced that he’ll impose 25 p.c tariffs on Indian exports to the US beginning August 1. He additionally threatened to penalise India for its purchases of Russian oil. On this phase, we clarify what the US hopes to realize with this transfer – and why India is not speeding to strike a deal. In the meantime, the US and South Korea have reached an settlement to decrease US tariffs to fifteen p.c.
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