US-India Trade Deal: A New Economic Chapter

President Donald Trump announced a new trade deal with India, highlighting reduced tariffs and India's commitment to increase purchases of U.S. energy, technology, and agricultural products. India agreed to cease buying Russian oil, opting instead for imports from the U.S. and potentially Venezuela.

US President Donald Trump revealed on Monday a significant trade agreement with India, emphasizing the strategic shift in economic partnerships. According to the president, India has agreed to cease its purchase of Russian oil and instead source more from the United States and possibly Venezuela.

The agreement was born out of a phone call between President Trump and Indian Prime Minister Narendra Modi, wherein the U.S. consented to lower its Reciprocal Tariff on Indian goods from 25% to 18%. This move is poised to foster smoother trade relations and was characterized by Trump as a gesture of friendship and respect for Modi.

Additionally, Modi committed India to buying over $500 billion in American energy, technology, and agricultural products, demonstrating a robust commitment to enhancing bilateral economic ties. This development marks a new chapter in US-India relationships, with significant implications for global trade dynamics.