Big news out of the US for India—President Trump just announced he’s cutting tariffs on Indian goods in half. He said the US hiked up those tariffs in the first place because India was buying so much Russian oil. But now that India’s scaled back on those imports, Trump says it’s time to ease up.

Here’s why the US is slashing tariffs

Trump put it pretty bluntly. India used to rely heavily on Russian oil, so the US hit back with steep tariffs. Now, with India pulling back on those purchases, the US feels comfortable dropping the tariff rates. Trump’s been hinting for a while that trade relations with India might be softening, and now he’s saying a trade deal is closer than ever.

Trump originally slapped a 25 percent reciprocal tariff on Indian products, then suddenly doubled it to 50 perc

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