Donald Trump announces US-India trade deal with immediate effect after call with PM Modi

New Delhi: President Donald Trump on Monday spoke to Prime Minister Narendra Modi and announced a trade deal, which would lead to Washington, DC, lowering the reciprocal tariff on India from 25% to 18%, and New Delhi would abolish the tariffs and non-tariff barriers on imports from the United States.

Trump claimed that Modi had agreed to stop buying oil from Russia and to import hydrocarbons in larger quantities from the US, and potentially, Venezuela, instead. The prime minister also committed that India would raise its imports from the US, “in addition to over $500 billion of US energy, technology, coal, agricultural and many other products”, the 47th American president posted on Truth Social.