SRINAGAR: US President Donald Trump on Monday announced that he would lower reciprocal tariffs on Indian imports from 25 percent to 18 percent, following a conversation with Prime Minister Narendra Modi. The move marks a warming of India–US relations, which had been strained due to high tariffs.
However, an additional 25 per cent tariff on Indian exports to the US remains in place.
Also shedding light on the much-awaited US-India trade deal, which had faced several roadblocks with New Delhi adamant about not opening its agriculture sector to Washington, Trump said that an agreement is finally on the cards.
During the call, Trump further said that Prime Minister Narendra Modi had agreed to stop buying Russian oil and to divert India’s oil imports to the US and Venezuela.
“It was an Honor to speak with Prime Minister Modi, of India, this morning. 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,” he posted on Truth Social.
