Overview
- The Global Trade Research Initiative called for immediate withdrawal of the additional 25% tariff on Indian goods tied to past Russian crude purchases.
- The surcharge remains in place, though President Trump said on November 11 that India has "very substantially" stopped buying Russian oil and that tariffs will be brought down.
- Between April and September 2025, India’s imports of U.S. crude rose 66.9% to $5.7 billion, taking total U.S. petroleum and product exports to India up 36.3% to $7.5 billion, while India’s petroleum product exports to the U.S. fell 15% to $2.3 billion.
- Recent deals include BPCL’s purchase of 10 million barrels of U.S. Midland crude for November–March delivery and a structured plan to import about 2.2 million tonnes of U.S. LPG in 2026.
- GTRI warns that keeping the surcharge would punish Indian exporters, slow trade negotiations, and break parity with major buyers such as China that have not faced similar penalties.