WASHINGTON – U.S. President Donald Trump said on Monday that the United States and India had reached a trade agreement “effective immediately” following a phone call with Indian Prime Minister Narendra Modi, marking a significant shift in tariffs and energy ties between the two countries.
Trump said the United States would reduce its reciprocal tariff on Indian imports from 25% to 18%, while India would move to cut its tariff and non-tariff barriers on U.S. goods to zero.
The U.S. president also said Modi had agreed to stop buying Russian oil and instead increase purchases from the United States and potentially Venezuela, a move Trump said would help efforts to end the war in Ukraine.
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“It was an honour to speak with Prime Minister Modi. He is one of my greatest friends and a powerful and respected leader of his country,” Trump wrote on his Truth Social platform. “He agreed to stop buying Russian oil, and to buy much more from the United States.”
There was no immediate confirmation from Indian officials on the details of the announcement.
