Trump Announces India-US Trade Deal: Tariffs Cut to 18%, Modi Pledges 'Buy American'
World
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Moneycontrol•02-02-2026, 22:51
Trump Announces India-US Trade Deal: Tariffs Cut to 18%, Modi Pledges 'Buy American'
- •US President Donald Trump announced a bilateral trade deal with India, reducing reciprocal tariffs from 25% to 18% immediately.
- •India committed to reducing its tariffs and non-tariff barriers against the US to zero.
- •The deal was made out of "friendship and respect for Prime Minister Modi," who pledged to "BUY AMERICAN" at a higher level.
- •India will purchase over $500 billion in US energy, technology, agricultural, and other products.
- •Modi reportedly agreed to stop buying Russian oil, opting for US and potentially Venezuelan energy, and discussed ending the Russia-Ukraine war.
Why It Matters: Trump announced a US-India trade deal with tariff cuts and India's commitment to increased US product purchases.
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