2026-02-02 18:38
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2026-02-02 18:38
US President Donald Trump announced on Monday the conclusion of a trade agreement with India, which will reduce tariffs on goods from India from 25 to 18 percent. Trump also said that the country's Prime Minister Narendra Modi had pledged to stop purchases of Russian crude oil.
Trump announced the agreement in a post on his own social media platform, Truth Social, reporting on his Monday conversation with Modi.
“We talked about many issues, including trade and ending the war between Russia and Ukraine. He agreed to stop buying Russian oil and buy much more from the United States and potentially from Venezuela as well. This will help END THE WAR in Ukraine,” Trump wrote.
“Out of friendship and respect for Prime Minister Modi and, in line with his request, effective immediately, we have agreed to a trade agreement between the United States and India under which the United States will collect a reduced tariff rate from 25% to 18%. – he added.
Trump announced that India has committed to reducing its own tariffs and trade barriers to zero, as well as to purchase raw materials, technologies and other products worth $500 billion from the US.
“Prime Minister Modi and I are the two people who GET THINGS GOTTEN, which cannot be said of most people,” Trump said.
India has so far been the only one of the world's largest economies that has not negotiated a trade agreement with the Trump administration. The announcement comes after years of negotiations on India's trade deal with the EU ended last week.
Trump imposed an additional 25% tariff on India in August. customs duties for buying Russian crude oil. According to Bloomberg, since then India has significantly reduced imports of raw materials from Russia. On Saturday, the president claimed that they had agreed to import oil from Venezuela to replace supplies from Iran.
From Washington Oskar Górzyński (PAP)
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