Now unjustified! Why Trump should withdraw 25% Russian oil tariffs on India with immediate effect

The Donald Trump administration should with immediate effect withdraw the 25% penal tariffs on India for its crude oil trade with Russia, says the Global Trade Research Initiative (GTRI) in its latest note. In August this year, Trump imposed a 25% additional tariff on India - over and above the 25% ‘reciprocal’ tariff - claiming that India’s crude oil imports from Russia are helping finance the latter’s war against Ukraine. GTRI founder Ajay Srivastava argues that since then India has stepped up its energy procurement from the US and its Russian crude oil imports have also come down. GTRI has urged the United States to eliminate without delay the supplementary 25% "Russian oil" duty imposed on goods from India, noting that the original rationale no longer applies following India's signi