Trump waives steep tariffs on Russian oil and gas buyers to ease trade talks

US President Donald Trump waived tariffs of up to 100% late Friday on buyers of Russian oil and gas. The move removes duties that would have hit Indian products and complicated trade negotiations between Washington and New Delhi. Both US and Indian officials recently made optimistic comments about the chances of an agreement. This decision helps break a long-running stalemate over trade between the two nations.

Context

Tariffs are taxes charged on imported goods that can raise prices and make trade harder between countries. Removing these steep penalties removes a major roadblock for ongoing trade talks. Leaders often use such policy shifts to build goodwill and move stalled economic discussions forward.