- Trumo says the American oil company will soon be chosen to lead partnership.
- India faces 25% US tariffs, possible sanctions on Russian imports.
- Pressure mounting on the modi government as trade negotiations with us inconsistent.
In yet another major diplomatic victory for Pakistan, US President Donald Trump has confirmed the completion of a trade agreement between the two countries, a step that signalizes growing confidence and elaborate economic ties between Islamabad and Washington.
The message comes as India is still encrypted to end a trade agreement with Washington, finds itself under growing pressure, staring down hefty 25% duty and the risk of sanctions on its continued energy band with Russia.
“We have just concluded an agreement with the country Pakistan, where Pakistan and the US will work together to develop their massive oil reserves. We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they will sell oil to India one day!” The US President wrote in a truth of truth.
President Donald Trump said Wednesday that the United States is still negotiating with India on trade after announcing earlier on the day the United States will impose a 25% duty on goods imported from the country that starts on Friday.
The 25% duty, as well as an unspecified penalty announced by Trump in a morning on social media, would strain relations with the world’s most populous democracy.
Later in the White House, the Republican President stated that there was the Wiggle Room.
“They have one of the highest tariffs in the world now that they are willing to cut it very significantly,” Trump told journalists. “We’re talking to India now – we’ll see what happens … You know by the end of this week.”
The 25% figure would point out India more seriously than other major trading partners and threaten to reveal months with conversations between the two countries and undermine a strategic partner in Washingtons and a counterbalance to China.
What the punishment would be was not ready. Trump initially indicated that it was for India to buy Russian weapons and oil and its non-monetary trading barriers.
This is an evolving story and is updated with more details.
