US-India may avoid up to 100% tariff on Russian energy
Business
A new trade deal between the US and India might help India avoid a massive tariff of up to 100% on buyers of Russian oil and gas.
This tariff is part of a recent US law aimed at the largest buyers of Russian oil and gas, but there's still room for both sides to negotiate and cap the amount mentioned in the bill.
India seeks edge over Vietnam, Indonesia
The deal could also shield India from extra tariffs tied to an ongoing US investigation into excess capacity.
While talks are still happening, India wants to make sure it stays ahead of competitors like Vietnam and Indonesia.
Plus, since India has managed to negotiate lower tariffs with the US before, there's hope this time too.