Besent hints at possibility of loosening US India tariffs

US Treasury Secretary Besson said in Davos on Friday that the 25% tariffs imposed by the US have led to a significant decrease in India's oil purchases from Russia, and the US may cancel these additional tariffs on India. He claimed that tariff measures have brought substantial benefits to the US economy and pointed out that Indian refineries' procurement of Russian oil has "collapsed". Besent hinted that there is a diplomatic "path" for India to shift its energy sources and eliminate tariffs.