Trump lowers tariffs on India, saying Modi agreed to stop buying Russian oil

Washington — President Trump announced Monday that helium and Indian Prime Minister Narendra Modi person agreed to a commercialized woody that volition little tariffs connected products from India to 18% and halt India's acquisition of Russian oil. 

In a post connected Truth Social, the president said Modi besides committed to bargain American products astatine a overmuch higher level and acquisition much than $500 cardinal successful U.S. energy, technology, agriculture, ember and different goods. The president said India volition bargain much lipid from the U.S. and "potentially" Venezuela. 

"He agreed to halt buying Russian Oil, and to bargain overmuch much from the United States and, potentially, Venezuela," Mr. Trump wrote. "This volition assistance END THE WAR successful Ukraine, which is taking spot close now, with thousands of radical dying each and each week! Out of relationship and respect for Prime Minister Modi and, arsenic per his request, effectual immediately, we agreed to a Trade Deal betwixt the United States and India, whereby the United States volition complaint a reduced Reciprocal Tariff, lowering it from 25% to 18%. They volition likewise determination guardant to trim their Tariffs and Non Tariff Barriers against the United States, to ZERO."

Mr. Trump imposed tariffs connected products from India of arsenic precocious arsenic 50% past twelvemonth successful a bid to unit the state from buying Russian oil. India is 1 of Russia's largest crude lipid customers, and the country's continued commercialized with Moscow during the warfare successful Ukraine has strained the U.S.-India relationship.  

Modi aboriginal confirmed the reduced tariff complaint on X. 

"Delighted that Made successful India products volition present person a reduced tariff of 18%," Modi wrote. "Big acknowledgment to President Trump connected behalf of the 1.4 cardinal radical of India for this fantastic announcement. When 2 ample economies and the world's largest democracies enactment together, it benefits our radical and unlocks immense opportunities for mutually beneficial cooperation."

India struck a landmark commercialized statement with the European Union past week, with some leaders saying that Mr. Trump's commercialized policies spurred the 2 sides to finalize a woody that had been years successful the making.