Overview
- At an Oval Office ceremony swearing in Sergio Gor as ambassador to India, President Trump said the two sides are “pretty close” to a “fair” agreement and that tariffs will come down.
- He linked potential tariff relief to a purported steep reduction in India’s purchases of Russian crude, a point contradicted by Kpler data showing October imports largely unchanged.
- Officials say five rounds of talks since March have addressed most issues, and teams are working on first‑phase text, though no agreement has been signed.
- The proposed pact is framed to boost U.S. energy exports, channel investment into key American industries, and expand security cooperation with India.
- U.S. tariffs on many Indian goods were raised to about 50% in August, including a 25% surcharge tied to Russian oil purchases, which has strained bilateral trade ties.