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- INTEREST37.00%-1.00
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- October 19, 20266°
- BIST10011,599-1.05%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,184.20+0.07%
- INTEREST37.00%-1.00
- BITCOIN82,480+0.57%
- October 19, 20266°
Rubio says U.S.-India trade deal is nearing completion
U.S. Secretary of State Marco Rubio said the trade deal between Washington and New Delhi is nearing completion. Rubio spoke in Samarkand, Uzbekistan, before his three-day visit to India; trade between the two countries totaled approximately $149.4 billion last year.
U.S. Secretary of State Marco Rubio said negotiations on completing the trade deal between the United States and India were nearing their conclusion.
Rubio said in Samarkand, Uzbekistan, where he was meeting with his counterparts from Central Asia, that talks were continuing ahead of his three-day visit to India. Rubio is expected to travel to India on Tuesday, arriving in Mumbai and visiting the world’s largest oil refinery at a single site in Jamnagar, in the state of Gujarat.
Exemption from sanctions on Russian energy
Rubio said Washington had decided to grant exemptions from sanctions on Russian oil and natural gas, taking into account their potential impact on global energy supplies and prices.
Rubio said the process of completing the trade deal was one of the factors taken into account in decisions by U.S. President Donald Trump regarding national security exemptions. He said every country faced “a complex set of factors” in its foreign policy decisions. He also noted that some countries could face difficulties accessing alternative energy sources for geographical reasons.
Legal text being prepared for the first section
The United States and India announced in February that they had reached agreement on the terms of an interim framework agreement aimed at resolving their bilateral trade dispute.
Indian Trade Minister Piyush Goyal said last week that the first section of the agreement had been completed and that the legal text was still being prepared. Goyal said at an event in New Delhi that he hoped the section would be completed and enter into force soon.
Trade tensions rose last year
Tensions between Washington and New Delhi rose after the Trump administration imposed a 50 percent tariff last year on products imported from India. India’s continued purchases of oil from Russia were also cited among the reasons for the tariffs.
The United States and India, which maintain a comprehensive global strategic partnership, recorded approximately $149.4 billion in trade last year.
Source: Anadolu Ajansı
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