"United States President Donald Trump has announced what he described as a trade deal with India to reduce market barriers between the two countries, which have a combined gross domestic product of $33 trillion. On Monday, Trump said he would reduce trade tariffs on Indian goods from 50 to 18 percent after New Delhi agreed to stop buying Russian oil one of the major sticking points between the two sides."
"Beyond Trump's announcement about tariffs on Indian goods, therefore, uncertainty about the future of US-India trade relations remains. For one, while Trump claims New Delhi has agreed to buy oil from the US instead, India has not publicly confirmed this. And, while Trump claimed that Modi had agreed to eliminate Indian tariffs on US goods altogether, this has also not been confirmed by India."
United States President Donald Trump announced a trade deal with India to reduce market barriers between the two countries, which have a combined GDP of $33 trillion. Trump said he would reduce trade tariffs on Indian goods from 50 to 18 percent after New Delhi agreed to stop buying Russian oil, a major sticking point. India's commerce minister confirmed a deal would be signed shortly and a joint statement will follow once details are agreed. India has not publicly confirmed buying US oil or eliminating tariffs on US goods, and announcements from both leaders have differed, leaving many details uncertain.
Read at www.aljazeera.com
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