U.S. and India seal trade deal, Trump says, after months of tensions

"The United States and India have finalized a trade agreement, President Donald Trump said in a Truth Social post Monday, putting an end to rancorous, months-long negotiations and steadying a relationship that had plummeted to its lowest point in decades. The agreement calls for Washington to lower its 25 percent tariff on goods imported from India to 18 percent, with India reducing its tariffs on U.S. goods to zero, according to Trump."

"It is unclear whether the additional 25 percent tariff Trump levied on New Delhi for its purchases of Russian oil in August will remain, though the president wrote that Prime Minister Narendra Modi has also agreed to stop "buying Russian Oil." "Our amazing relationship with India will be even stronger going forward," Trump said. There was no immediate confirmation or readout from the Indian government."

The United States and India finalized a trade agreement after months of rancorous negotiations. The deal reduces the U.S. tariff on goods imported from India from 25 percent to 18 percent and eliminates Indian tariffs on U.S. goods. India agreed to stop purchasing Russian oil, though the status of an additional 25 percent U.S. tariff imposed in August for such purchases remains unclear. The agreement includes commitments for India to purchase over $500 billion of U.S. energy, technology, agriculture and coal products. India reached the agreement days after signing a comprehensive trade deal with the European Union. There was no immediate confirmation from the Indian government.

Read at The Washington Post