@zoa

three sources familiar with the matter revealed that India and the United States are about to reach a long-delayed trade agreement, which may reduce the current tariffs on Indian exports from a punitive 50% to 15% to 16%. Sources said that as energy and agriculture become key cards on the negotiating table, India may agree to gradually reduce oil imports from Russia. These purchases have led to a 25% punitive tariff on Indian exports, higher than the 25% reciprocal tariff announced in April. Currently, Russia accounts for approximately 34% of India's crude oil imports. The country currently imports about 10% of its oil and gas needs (by value) from the United States. India may also allow more non-genetically modified American corn and soybean meal to enter its market. In addition, India is pushing for the establishment of a mechanism to re-examine the tariffs and market access in the agreement over time. 🤔🤔🤔

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