PM Modi Thanks Trump for Tariff Cut on Made-in-India Products
India
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CNBC TV18•02-02-2026, 23:23
PM Modi Thanks Trump for Tariff Cut on Made-in-India Products
- •PM Narendra Modi thanked US President Donald Trump for reducing tariffs on Made-in-India products from 25% to 18%.
- •The announcement followed a trade deal between India and the US, aimed at boosting economic cooperation.
- •Modi emphasized that collaboration between the world's largest democracies creates immense opportunities.
- •Trump's statement also mentioned India's agreement to stop buying Russian oil and increase purchases from the US and Venezuela.
- •The US also expects India to reduce its tariffs and non-tariff barriers to zero and commit to 'BUY AMERICAN' at a higher level.
Why It Matters: PM Modi thanked Trump for a significant tariff reduction on Indian goods, enhancing India-US trade relations.
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