'Tariff Cut Is Huge, Details Still Vague': Economist Willem Buiter

Willem Buiter, Chief Economist at Citi and the EBRD, said the India-US trade deal marks significant progress, with tariffs on about $50 billion worth of Indian exports dropping from 50% to 18%. However, he cautioned that the agreement remains vague, with timelines and key conditions still unclear. Buiter noted uncertainty over India's Russian oil imports and questioned claims of zero tariffs on US exports, while stressing the importance of addressing non-tariff barriers for the deal to deliver lasting impact.