"President Donald Trump said Monday that he plans to lower tariffs on goods from India to 18%, from 25%, after Indian Prime Minister Narendra Modi agreed to stop buying Russian oil. The move comes after months of Trump pressing India to cut its reliance on cheap Russian crude. India has taken advantage of slacked Russian oil prices as much of the world has sought to isolate Moscow for its February 2022 invasion of Ukraine."
"Trump said that India would also start to reduce its import taxes on U.S. goods to zero and buy $500 billion worth of American products. "This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!" Trump said in a Truth Social post announcing the tariff reduction on India."
"Modi posted on X that he was "delighted" by the announced tariff reduction and that Trump's "leadership is vital for global peace, stability, and prosperity." "I look forward to working closely with him to take our partnership to unprecedented heights," Modi said. Trump has long had a warm relationship with Modi, only to find it complicated recently by Russia's war in Ukraine and trade disputes."
President Donald Trump plans to lower tariffs on goods from India to 18% from 25% after Narendra Modi agreed to stop buying Russian oil. Trump pressed India for months to reduce reliance on discounted Russian crude amid global efforts to isolate Moscow after its February 2022 invasion of Ukraine. India would reduce import taxes on U.S. goods to zero and commit to purchasing $500 billion in American products. Trump said the move would help end the war in Ukraine. Modi expressed delight and praised Trump's leadership, while the U.S.-India relationship remains warm but complicated by the Russia war and trade disputes.
Read at Fast Company
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