‘There Is A Path To Take Them Off’: US Signals Rollback Of 25% Tariff Penalty On India

US Treasury Secretary Scott Bessent has hinted that the government may remove the additional 25% tariff imposed on India. (Courtesy: Reuters)

US Treasury Secretary Scott Bessent has hinted that the government may remove the additional 25% tariff imposed on India due to its purchase of Russian oil, which remains in place for now.

While speaking to Politico on the sidelines of the World Economic Forum in Davos, Bessent said, “We put 25% tariffs on India for buying Russian oil, and the Indian purchases by their refineries… have collapsed."

US Treasury Secretary Scott Bessent says the 25% tariff penalty on India could be rolled back.“Our 25% tariff has been a huge success. India’s purchases of Russian oil have collapsed. The tariffs are still on but there’s a path to take them off now." pic.twitter.com/XaoaVR2dT4

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He claimed that after the imposition of the tariff, the purchases of Russian oil by Indian refineries had declined, and the step taken had been successful.

“That is a success. The 25% Russian oil tariffs are still on. I would imagine there is a path to take them off now. So that’s a check and a huge success," he added.

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