US President Donald Trump on Monday revealed that he will cut the reciprocal tariffs on India from 25 per cent to 18 per cent. This comes shortly after he spoke to Prime Minister Narendra Modi.
It should be noted that an additional 25 per cent tariff on Indian exports to the US has not been lifted.
He claimed that India has agreed to stop buying Russian oil while buying $500 billion worth of US energy and tech.
Earlier, US Ambassador to India Sergio Gor revealed on X: “President Trump just spoke with Prime Minister Modi. STAY TUNED…”
Following this, Trump took to Truth Social, saying it was an honour to speak with PM Modi. “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.”
Trump claimed that India stopping purchase of Russian oil will help “END THE WAR in Ukraine”. “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,” he said in post.
Trump said Modi has committed to buy American goods “at a much higher level”, in addition to over $500 billion of US “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!” he added.
