U.S. Commerce Secretary Lutnick: India has to stop buying Russian oil

Trade Negotiations - India is under pressure to open its market and cease purchasing Russian oil, which has increased from 1% to 40% of its oil imports since the Ukraine war began [1] - Upcoming trade deals are anticipated with Taiwan and Switzerland, while South Korea's compliance with agreements remains to be seen [1] Success Stories in Trade Agreements - The trade agreement with Europe involves 450 million people and a 20 trillion dollar economy, allowing for complete market access to the U.S. and a 15% tariff payment [1] - Japan has committed 550 billion dollars for investments in the U.S., including infrastructure projects like the Alaska pipeline and nuclear power plants, in exchange for tariff reductions [1] Economic Impact - Tariffs are generating 40 billion dollars monthly, contributing to deficit reduction without significantly causing inflation [1] - A projected 10 trillion dollars in factory construction is expected, leading to a surge in construction jobs and GDP growth exceeding 4% next year [1]