Trump Announces 18% Tariff Reduction on India, Claims Major Trade & Energy Deals
Business
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Moneycontrol•02-02-2026, 22:55
Trump Announces 18% Tariff Reduction on India, Claims Major Trade & Energy Deals
- •US President Donald Trump announced a reduction in reciprocal tariffs on India from 25% to 18% following talks with PM Narendra Modi.
- •Trump claimed PM Modi agreed to halt Russian oil purchases and significantly increase energy imports from the US, with potential purchases from Venezuela.
- •The US President stated that a trade deal was reached at PM Modi's request, with India moving towards zeroing its tariff and non-tariff barriers against the US.
- •Trump also claimed India assured over $500 billion in purchases from the US across various sectors under the 'Buy American' policy.
- •The discussions covered trade, the Russia-Ukraine war, and energy, with Trump highlighting a new, stronger phase for India-US relations.
Why It Matters: Trump announced reduced tariffs and claimed significant trade and energy agreements with India after talks with PM Modi.
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