No tariff rollback until India pauses Russia oil supply-US plays hardball, deal in limbo

U.S. trade negotiators have told their Indian counterparts that curbing purchases of Russian oil is crucial to reducing India’s tariff rate and sealing a trade deal, two people familiar with the talks told Reuters.

While trade negotiations are on a positive track, a U.S. official said, more work is needed to ensure India addresses U.S. concerns over market access, the trade deficit and purchases of Russian oil. U.S. President Donald Trump has sought to pressure India, the European Union and members of NATO to curb purchases of Russian oil as a way to cut Moscow’s revenue and hasten an end to the war in Ukraine.