Trump announces ‘trade deal’ with India after Modi call

2026-02-02 - 17:26

United States President Donald Trump announced a “trade deal” with India on Monday after speaking to Prime Minister Narendra Modi, saying New Delhi agreed to stop buying Russian oil and may purchase it instead from Venezuela. In a post on social media platform Truth Social, the US president said that “out of friendship and respect” for Modi, the US would lower its reciprocal tariff rate from 25 per cent to 18pc, while India would reduce tariffs on US goods to zero. “He (Modi) agreed to stop buying russian oil, and to buy much more from the United States and, potentially, Venezuela,” Trump wrote. More to follow