Source: BBC News [UK State Media]
“US President Donald Trump announced that he agreed to a trade deal with India’s Prime Minister Narendra Modi, where the US will lower tariffs on goods from India to 18% from 25%. In a post on Truth Social, Trump said India will reduce trade barriers to zero and will also stop buying Russian oil. An additional 25% tariff penalty imposed for Delhi’s refusal to stop buying oil from Russia will be dropped. The announcement comes less than a week after India and the European Union announced a landmark trade deal that capped nearly two decades of on-off talks. Modi said on X that he is ‘delighted’ that an agreement with the US has been reached. In the post, Trump said that a morning phone call with Modi included discussions of trade and the Russia-Ukraine war.” (02/02/25)