Jammu, Feb 3: Jammu and Kashmir Chief Minister Omar Abdullah on Tuesday welcomed the US government’s decision to bring down reciprocal tariffs on Indian goods, saying this would bring relief to many exporters in the country who were facing difficulties in view of the increased tariff.
US President Donald Trump on Monday announced that India and the US have agreed on a trade deal under which Washington will reduce the reciprocal tariff on Indian goods to 18 per cent from the current 25 per cent.
The announcement is crucial for India as the US imposed a steep 50 per cent tariff on Indian goods entering American markets from August 27, 2025.
“These tariffs were proving to be quite burdensome for us, and we also know very well why these tariffs were imposed. The United States was not happy with the fact that we buy oil from Russia. Trump announced that the Indian government has now stopped purchasing oil from Russia, and because of that, the tariffs will no longer be imposed on us,” the chief minister told reporters in the Assembly lawns here.
He said that if the Indian government had stopped buying oil from Russia, it might be a good development.
However, he wondered where the BJP-led government would obtain oil now that it is no longer sourcing from Russia, and whether purchasing from alternative sources would result in an increase in petrol and diesel prices in the country. “For that, we have to wait and see,” Abdullah said.
Regarding the reduction of tariffs, the chief minister mentioned, “It will benefit our exports, which is a good step, as many of our exporters were facing significant challenges. Some even felt they might have to shut down their businesses. Now that tariffs have been reduced, we hope that their businesses will begin to thrive again.”
