By Admin 
Now Tank Global Trade Research Initiative has issued a statement regarding the trade deal between America and India, asking America to remove 25% additional tariff on Indian goods. Because of this, India has reduced the limit of purchasing oil from Russia. Nearly two-thirds of the cuts have been made by India this month.
what gtri said
According to the information, GTIR said, ‘India has reduced the import of crude oil from Russia. Therefore, any additional tariff now makes no sense.
Let us tell you, America had imposed 25% tariff on India because India was buying crude oil from Russia. Earlier, US President Donald Trump had admitted that India’s oil purchases from Russia have decreased significantly.
Here, GTRI has clearly said that Trump should now remove the additional 25% tariff without any delay. GIRI has not justified this duty for Indian exporters. It has also been said that maintaining this duty may harm the trade deal between the two countries. both countries
Trust will increase in both countries
GTRI believes that if the duty is refunded on time, it will keep Trump’s commitment. India will also get good results from this. Besides, the relations between the two countries will also get strengthened. Also, removal of additional duties will restore parity with economies like China.
Here, since September, the import of American petroleum crude oil has increased by 66.9% to 5.7 billion dollars. This is an increase of 36.3% in the total petroleum and production exports from America. Here, America’s concern that Indian refinery companies were buying oil from Russia and sending it to America will end.