India-US trade deal – Tariff now 18%

India-US trade deal: Reciprocal tariffs down to 18%, Trump’s claim of 500 billion dollar deal | What we know so far

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 country.

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.

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.