Trump WAS getting bent outta shape about India importing Russia’s Oil?

In the executive order, the president said he was now removing the Russian oil-related duty, effective Saturday, because “India has committed to stop directly or indirectly importing Russian Federation oil,” has promised to purchase U.S. energy products and recently committed to a framework to expand defense cooperation with the United States over the next 10 years.

The U.S.-India joint statement said India will remove tariffs on “all U.S. industrial goods and a wide range of U.S. food and agricultural products, including dried distillers’ grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products.”

In exchange, the U.S. will lower the reciprocal tariff rate on a long list of goods and could remove it completely on additional items not produced domestically, subject to successful conclusions of negotiations between the two countries, the joint statement said.

The Trump administration also agreed to remove tariffs on certain aircraft and certain aircraft parts that were imposed under separate national security actions.

The United States will also create a preferential tariff rate quota for auto parts that are subject to national security tariffs and will receive “negotiated outcomes with respect to generic pharmaceuticals and ingredients” under another national security investigation that has not yet been concluded, the joint statement said.

Another provision says India intends to buy $500 billion of U.S. energy products, aircraft and aircraft parts, technology products and cooking coal over the next five years.

The two sides said they would continue negotiating a “broader” bilateral trade agreement that will include additional market access commitments and support more resilient supply chains….

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