Kolkata: As the prospect of working out a bilateral trade deal with the US brightened following a phone call between Indian PM Narendra Modi and the US president Donald Trump, trade experts began saying that as the situation moves forward towards the first phase of the highly-anticipated deal, they expect the 25% punitive tariff linked to Indian purchase of Russian crude oil should be removed first.

“This is the least that we must expect from the first phase of the trade deal,” international trade expert Abhijit Das told CNBC-TV18 during an interview. On Thursday, Prime Minister Narendra Modi and US President Donald Trump engaged in a telephonic discussion that triggered hope on progress of the deal. Das also remarked that India, too, will cut down some of its retaliatory tariffs to ar

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