Overview
- Sergio Gor formally took office as U.S. ambassador to India at an Oval Office ceremony, underscoring his close ties to the White House.
- President Trump said the U.S. is getting close to a “fair” trade agreement with India and indicated tariffs would come down “at some point.”
- Trump linked potential tariff cuts to a claimed drop in India’s Russian oil imports, a point contradicted by Kpler data showing October volumes largely unchanged.
- The U.S. earlier lifted duties on Indian goods to as high as 50%, including a 25% penalty tied to purchases of Russian crude.
- Negotiators have completed five rounds of talks since March, with both sides citing progress but acknowledging sensitive issues still to be resolved.