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-US would reduce tariffs on India from 25% to 18%; India would also move forward to reduce their 'tariffs and non-tariff barriers against the US to zero,' Trump said
US President Donald Trump announced a trade deal with India, "effective immediately" following a call with Prime Minister Narendra Modi.
US would reduce reciprocal tariffs on India, lowering it from 25 per cent to 18 per cent. India would also move forward to reduce their "tariffs and non-tariff barriers against the US to zero," Trump said. Reacting to the trade deal, Modi thanked Trump "on behalf of the 1.4 billion people of India".
The Indian Prime Minister committed to "buying American", with over $500 billion of US energy, tech, coal, and many other products, Trump added.
After the two spoke about "ending the war with Russia and Ukraine," Modi also agreed to "stop buying Russian oil, and to buy much more from the United States and, potentially, Venezuela". A White House official said US is dropping the 25 per cent additional tariff on Indian imports since India was reducing purchases of Russian oil, Reuters reported.
"This will help end the war in Ukraine, which is taking place right now, with thousands of people dying each and every week," Trump added.
Tariff timeline
April 2, 2025: The US imposed a 26 per cent "reciprocal tariff" on several Indian imports under his global "liberation day" tariff actions.
April 10: Trump paused the tariffs for 90 days and maintained a baseline 10 per cent duty on all imports.
July 30: Trump announced a 25 per cent tariff on all Indian goods and said it would levy a penalty if India continued to buy Russian oil.
August 27: Trump's 50 per cent tariffs goes into effect on Indian goods being shipped to US, citing the Asian country's continued purchase of Russian oil.
-US would reduce tariffs on India from 25% to 18%; India would also move forward to reduce their 'tariffs and non-tariff barriers against the US to zero,' Trump said
US President Donald Trump announced a trade deal with India, "effective immediately" following a call with Prime Minister Narendra Modi.
US would reduce reciprocal tariffs on India, lowering it from 25 per cent to 18 per cent. India would also move forward to reduce their "tariffs and non-tariff barriers against the US to zero," Trump said. Reacting to the trade deal, Modi thanked Trump "on behalf of the 1.4 billion people of India".
The Indian Prime Minister committed to "buying American", with over $500 billion of US energy, tech, coal, and many other products, Trump added.
After the two spoke about "ending the war with Russia and Ukraine," Modi also agreed to "stop buying Russian oil, and to buy much more from the United States and, potentially, Venezuela". A White House official said US is dropping the 25 per cent additional tariff on Indian imports since India was reducing purchases of Russian oil, Reuters reported.
"This will help end the war in Ukraine, which is taking place right now, with thousands of people dying each and every week," Trump added.
Tariff timeline
April 2, 2025: The US imposed a 26 per cent "reciprocal tariff" on several Indian imports under his global "liberation day" tariff actions.
April 10: Trump paused the tariffs for 90 days and maintained a baseline 10 per cent duty on all imports.
July 30: Trump announced a 25 per cent tariff on all Indian goods and said it would levy a penalty if India continued to buy Russian oil.
August 27: Trump's 50 per cent tariffs goes into effect on Indian goods being shipped to US, citing the Asian country's continued purchase of Russian oil.
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