Possibility of Additional Tariffs on India Being Reduced Soon – US Treasury Secretary

The United States had imposed additional tariffs on India over its continued purchase of crude oil from Russia. However, India may soon receive some relief from these tariffs, according to indications given by US Treasury Secretary Scott Bessent. He stated that India’s gradual reduction in crude oil imports from Russia is the key reason behind the possibility of easing the tax burden.

Earlier, India faced an additional 25 percent tariff due to large-scale oil purchases from Russia, resulting in total duties of up to 50 percent on Indian exports to the United States. With India now cutting back on these imports, Scott Bessent noted that there is a strong likelihood of the extra 25 percent tariff being rolled back in the near future. In the backdrop of the Ukraine war, the Trump administration had adopted a tough stance against countries continuing trade with Russia. Although tariffs on Indian imports were doubled to 50 percent in August 2025, recent developments suggest that the situation may now turn favorable for India.