United States President Donald Trump introduced a “commerce deal” with India on Monday after talking to Prime Minister Narendra Modi, saying New Delhi agreed to cease shopping for Russian oil and should buy it as an alternative from Venezuela.
In a post on social media platform Reality Social, the US president mentioned that he and the Indian prime minister spoke about “many issues”, together with commerce and the continuing warfare between Russia and Ukraine.
Trump added that “out of friendship and respect” for Modi, the US would decrease its reciprocal tariff fee from 25 p.c to 18 p.c, whereas India would scale back tariffs on US items to zero.
“He (Modi) agreed to cease shopping for Russian oil, and to purchase way more from america and, probably, Venezuela,” Trump wrote, including that this could “finish the warfare” between Russia and Ukraine.
The US president, calling Modi “one in all my biggest mates, and a strong and revered chief of his nation”, mentioned that he agreed to “purchase American” at a a lot larger stage.
Trump added that India would purchase, “over $500 billion of US vitality, know-how, agricultural, coal, and plenty of different merchandise”.
Later, Modi took to X to hail the dialogue and categorical his happiness with the lowered tariffs.
“Massive due to President Trump on behalf of the 1.4 billion individuals of India for this excellent announcement,” he wrote.
“When two massive economies and the world’s largest democracies work collectively, it advantages our individuals and unlocks immense alternatives for mutually helpful cooperation,” Modi mentioned.
The Indian prime minister referred to as Trump’s management “very important for international peace, stability, and prosperity”, including that New Delhi totally helps his efforts.
“I sit up for working carefully with him to take our partnership to unprecedented heights,” Modi mentioned.
The US is successfully overseeing Venezuelan oil exports since toppling the South American nation’s chief Nicolas Maduro in a army operation in January.
Trump hit India, the world’s most populous nation, with 25pc reciprocal levies throughout his waves of “Liberation Day” tariffs final 12 months. He then stacked one other 25pc on high of that over India’s purchases of Russian oil.
Modi was one of many first leaders to go to the White Home after Trump’s inauguration for his second time period in January 2025, however that has not stopped tough commerce negotiations over the previous 12 months.
Trump additionally mentioned in October that Modi had promised to cease shopping for Russian oil, however an settlement didn’t materialize on the time.
