Days ago India faced the threat of US tariffs of up to 100%. Now America's top diplomat is heading there to close a trade deal. Secretary of State Marco Rubio travels to India on Tuesday for a two-day visit to Mumbai and Jamnagar, Geo News reported, citing Reuters.
He is due to meet government and business leaders, including Foreign Minister S Jaishankar and Mukesh Ambani, chairman of Reliance Industries, which runs the world's largest refining complex at Jamnagar.
A deal 'almost complete'
Rubio and other officials have said a comprehensive trade deal is almost complete, raising the possibility it could be signed during the visit.
President Donald Trump removed one obstacle last Friday when he waived potential tariffs that would have punished New Delhi for its large purchases of Russian crude. Legislation signed in September lets the administration impose tariffs of up to 100% on the top five importers of Russian oil, a list on which India ranks second after China. The waiver has upset both Democrats and Republicans pushing for more pressure on Moscow.
'Geography is real'
Rubio said the trade talks were a factor in the waiver, and that India had diversified its energy imports even though it still buys millions of barrels of Russian oil a day. "They're also an important ally and partner of the United States," he said on Sunday.
"Geography is real," he told reporters on Monday. "For some countries, it's very difficult to acquire energy from alternative sources." He said the administration was entering a 60-day review to decide which new tariffs, if any, to impose.
The picture is muddied further by Washington's own deal last week to import Russian diesel to bring down fuel prices before the midterm elections, Geo News reported. India imports more than 85% of its crude oil. Rubio flies into Mumbai from Samarkand, Uzbekistan, where he met Central Asian leaders.
Read Geo News's report.