Indian Petroleum Product Exports Escape US Tariffs

Exemption may not significantly alter existing exports

- SUBHAYAN CHAKRABORTY

The baseline 10 per cent tariff on all imports to the US — and higher for many major trading partners — will not apply to crude oil, natural gas, and refined products, the White House said on Wednesday. It will save India's oil and petroleum exports to the US, valued at $5.8 billion in financial year 2023-24 (FY24), from being burdened with import duties.