Urgent.News

What's breaking now, across thousands of outlets.

Finance & Markets

Rubio kicks off India visit with trade deal, Russian oil on agenda

Rubio kicks off India visit with trade deal, Russian oil on agenda

US Secretary of State Marco Rubio embarked on a two-day visit to India on Tuesday, aiming to finalize a much-anticipated trade deal between the two nations. The timing of Rubio's visit coincides with President Donald Trump's decision to waive tariffs on US imports from India, a move aimed at easing economic tensions with the world's largest democracy.

Rubio is expected to meet with Indian government and business leaders, including Foreign Minister S. Jaishankar and billionaire Mukesh Ambani, chairman of Reliance Industries, during his stay in Mumbai and Jamnagar. The comprehensive trade deal between the US and India is reportedly almost complete, paving the way for its possible signing during Rubio's visit.

The removal of potential tariffs, which would have penalized India for its substantial Russian oil imports, was a key factor in the decision to waive those tariffs. India, the second-largest importer of Russian crude oil after China, has been diversifying its energy sources, but still relies heavily on Russian oil due to the difficulty in swiftly shifting to alternative sources. In spite of this, India remains an important ally and partner of the United States.

Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

This story

This is one outlet's version. Read the fullest account.

Read the original at investing.com →

More in Finance & Markets

More from Tuesday 20 October →