"US President Donald Trump on Monday said he had agreed to a trade deal with India following a phone call with Indian Prime Minister Narendra Modi. "Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%," Trump said in a social media post."
"Trump added that India had agreed to stop buying Russian oil, which he has claimed in the past. He said India would also reduce its import taxes on US goods to zero and buy $500 billion worth of US energy, technology and agricultural products. The president did not provide further details of the tariffs or the oil purchases. The Indian government has not issued a statement, but Modi confirmed the tariffs reductions in a post on X."
A trade agreement between the United States and India will reduce the U.S. reciprocal tariff from 25% to 18%. India has agreed to stop buying Russian oil and to reduce import taxes on U.S. goods to zero. India will purchase $500 billion worth of U.S. energy, technology and agricultural products. No further details were provided about the adjusted tariffs or the oil purchases. The Indian government has not issued an official statement. Prime Minister Narendra Modi confirmed the tariff reductions in a post on X and framed the cooperation as unlocking opportunities for mutually beneficial cooperation.
Read at www.dw.com
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