Chief Economic Adviser V Anantha Nageswaran expressed optimism that the US may withdraw the penal 25% tariff on Indian imports after November 30. The additional duties, imposed by President Donald Trump over India’s oil trade with Russia, had raised total tariffs on Indian goods to 50%, including the earlier 25% reciprocal tariff. Nageswaran noted ongoing discussions between the two governments and predicted a resolution within eight to ten weeks, as positive exchanges continue between PM Modi and Trump.