Trump says the US and India have agreed on a trade deal to lower tariffs.
- Global News
Favour Chikwesiri Michael
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- 1 minute read
U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands as they attend a joint press conference at the White House in Washington, D.C., U.S., February 13, 2025. REUTERS/Kevin Lamarque/File Photo
On Monday, U.S. President Donald Trump announced that he had reached a trade deal with India, and that India had agreed stop purchasing Russian oil while increasing its imports from the United States and possibly Venezuela.
“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%,” Trump said in a social media post following a call with Indian Prime Minister Narendra Modi.
Trump added that Modi also agreed to purchase over $500 billion worth of U.S. energy, technology, agricultural, and other products.
