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India refuses to budge on red lines
Financial Express Kolkata
|February 08, 2026
INDIA HAS SECURED a sharp reduction in tariffs and a complete rollback of oil-related duties under an interim trade deal with the US, in return for opening up parts of its market to American goods and committing to purchase $500 billion worth of US products over the next five years.
The deal, announced earlier this week and formalised through an executive order issued by US President Donald Trump, eliminates the additional 25% tariff imposed on Indian goods over New Delhi’s purchases of Russian oil, and lowers so-ca
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