New Delhi: Donald Trump said on Monday that India and the US have agreed to a trade deal. Under the agreement, the United States will reduce tariffs on India from 25 per cent to 18 per cent.
India has agreed to stop buying Russian oil, and “much more from the United States and, potentially, Venezuela,” Trump said.
India will also buy over 500 billion dollars of US Energy, Technology, Agricultural, Coal, and many other products, Trump informed.
The two leaders had a telephonic conversation, which was revealed by US Ambassador to India Sergio Gor earlier in the evening. “STAY TUNED…” he had written on X.
Shortly after that, Trump took to his social media platform Truth Social to say it was “an honour” to speak to PM Modi, calling him one of his “greatest friends.”
In a lengthy post, Trump further wrote: “He is one of my greatest friends and, a Powerful and Respected Leader of his Country. We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of
people dying each and every week! 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%. They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO. The Prime Minister also committed to “BUY AMERICAN,” at a much higher level, in addition to over $500 BILLION DOLLARS of U.S. Energy, Technology, Agricultural, Coal, and many other products. Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that GET THINGS DONE, something that cannot be said for most. Thank you for your attention to this matter!”
Later in the night, Modi took to his X handle to thank Trump for reducing tariff rate. He didn’t mention anything on the trade deal.
“Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement. When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation. President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. I look forward to working closely with him to take our partnership to unprecedented heights,” Modi wrote on X.