On November 11, U.S. Treasury Secretary Bowman told the media: "India has multiple state-owned refineries that have already prepared to stop purchasing Russian oil. In addition, New Delhi has privately stated that it will not renew some contracts when they expire, which creates conditions for President Trump to lower India's tariffs at some point. The United States is 'very close' to reaching a trade agreement with New Delhi."
[Witty] Oil for Tariffs? The interests exchange between the U.S. and India is too ridiculous! What Bowman said sounds like a win-win, but in reality, it is a naked interest deal. India is willing to give up the discount on Russian oil to avoid a 50% high tariff, putting pressure on refinery profits and using the people's livelihood as a negotiation chip; the United States, on the other hand, uses tariffs as an enticement to force allies to take sides, full of geopolitical calculations. On one side, Indian exporters can't bear the tariff and are cutting jobs and shutting down production, while on the other side, American consumers can't get Indian shrimp or pay more for jewelry. This trade struggle was already a lose-lose situation, and now using the abandonment of Russian oil to lower tariffs is just another way to fleece each other!
A commentary said that the so-called "very close" agreement is not a win-win cooperation, but clearly a transaction of mutual calculation. It is feared that the tariff will not be reduced much, and the benefits of Russian oil will disappear first, ending up with nothing gained!
Original text: www.toutiao.com/article/1848459066297347/
Statement: This article represents the personal views of the author.