INDIA GETS TARIFF REPRIEVE AS TRUMP WAIVES RUSSIAN OIL PENALTIES , BUT THE THREAT LINGERS

What happened: US President Donald Trump waived punitive tariffs under the Sanctioning Russia and Iran Act of 2026 that had threatened India with duties of up to 100 per cent on exports to the US. The waiver does not repeal the law. Key numbers: Russia's share of Indian oil imports fell from 51 per cent in July to 44 per cent in August. Why it matters: The waiver buys India time to negotiate a trade deal but offers no lasting certainty, said Ajay Srivastava of GTRI, who added that Washington can revive the tariff threat to extract concessions in bilateral talks. Coverage: 4 outlets in 24h

US President Donald Trump waived punitive tariffs under the Sanctioning Russia and Iran Act of 2026 that had threatened India with duties of up to 100 per cent on exports to the US. The waiver does not repeal the law.

The waiver buys India time to negotiate a trade deal but offers no lasting certainty, said Ajay Srivastava of GTRI, who added that Washington can revive the tariff threat to extract concessions in bilateral talks.