Trump announces trade deal with India

Indian Prime Minister Narendra Modi and US President Donald Trump.

US President Donald Trump has agreed to a trade deal with Indian Prime Minister Narendra Modi. As a result of this agreement, the US will reduce the tariff imposed on Indian goods from 25 percent to 18 percent.

In a post on Truth Social, Trump said that India has agreed to reduce all types of tariff and non-tariff barriers in trade with the US to zero. At the same time, they will stop buying oil from Russia. Trump said that the additional 25 percent tariff penalty imposed on Delhi for not stopping buying oil from Russia will also be withdrawn.

In response to Trump's post, Prime Minister Modi wrote in a post on social media X that he was "very happy" to have signed a trade deal with the US. Trump said in his post that he had discussed trade and the Russia-Ukraine war in a phone call with Modi this morning.

Trump wrote, "He (Modi) has agreed to stop buying oil from Russia and to buy much more oil from the United States and potentially Venezuela." The US President also commented that India's decision would help "end" the 4-year war between Russia and Ukraine. Trump also said that at Modi's request, he had immediately agreed to a trade deal, which would reduce tariffs. India's tariff and non-tariff barriers will be reduced to zero.

In addition, Trump said that Modi has promised to buy more than $ 500 billion (366 billion pounds) worth of American goods in various sectors, including energy, technology, agriculture and coal.

BBC News.