India-US trade deal: In a post on his Truth Social handle, US President Trump referred to his conversation with Prime Minister Modi earlier in the day. He said that PM Modi was one of his greatest friends and a powerful and respected leader of his c
India-US trade deal: US President Donald Trump on Monday announced that he and Prime Minister Narendra Modi “have 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 pr cent to 18 per cent.
In a post on his social media handle Truth Social, US President Trump referred to his conversation with Prime Minister Modi earlier in the day. He said that PM Modi was one of his greatest friends and a powerful and respected leader of his country. Also Read- India gains edge over regional export competitors after tariffs drop to 18%, beats China, Bangladesh“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,” Trump said in his post.Trump also said PM Modi and he are two people that get things done. He claimed that the Prime Minister had agreed to “stop buying Russian Oil”, and to buy much more from the US. Indian government has for far not made any announcement about the trade deal with the United States. Trump also said that the new US–India trade deal is effective immediately and claimed that India will buy over $500 billion in US goods. Trump further claimed India will reduce tariffs and non-tariff barriers against the United States.“He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week! 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%,” he added. “They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO. The Prime Minister also committed to “BUY AMERICAN,” at a much higher level, in addition to over $500 BILLION DOLLARS of U.S. 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,” Trump added.PM Modis reaction to India-US trade dealPrime Minister Modi on Monday said that it was wonderful to speak with his “dear friend President Trump” today and expressed delight that Made in India products will now have a reduced tariff of 18 per cent.“Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement,” PM Modi said in a post on X .The Prime Minister said that when two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation.Russian oil purchase The US will also drop the 25 per cent tariff linked to Russian oil purchases as part of India’s agreement to stop buying crude from Russia, the White House said on Monday. “As part of India’s agreement to cease Russian oil purchases, the 25 per cent Russian oil-related tariff will be dropped,” a White House official told the news agency IANS after President Trump said that the two countries have reached a trade deal.Jaishankars US visitExternal Affairs Minister S. Jaishankar is on a visit to the United States from February 2-4 to participate in the Critical Minerals Ministerial convened by US Secretary of State Marco Rubio, according to an official release by the Ministry of External Affairs.ANI reported that the Ministerial will focus on supply chain resilience, clean energy transitions, and strategic cooperation in critical minerals.During the visit, the EAM will also hold meetings with senior members of the US administration.
India US Reciprocal Tariffs Tariffs Reduced To 18 Percent Trump India Trade Deal 500 Billion Dollar Trade Deal Claim Donald Trump Trade Statement Modi Trump Trade Talks India US Economic Ties US Tariffs On Indian Goods India-US Trade Deal India US Tariff Tensions
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