WASHINGTON: The United States and India have reached an agreement on a bilateral trade deal that includes reductions in reciprocal tariffs, US President Donald Trump said on his social media platform.
Trump said on Truth Social that leaders discussed a range of economic and energy issues during a conversation with Indian Prime Minister Narendra Modi.
According to Trump’s post, India has agreed to reduce tariffs imposed on American goods, lowering reciprocal tariffs from 25% to 18%, and will move toward eliminating its own tariffs and non-tariff barriers against US products.
Trump also said India had committed to purchasing American-made energy, technology, agricultural products and other goods valued at more than $500 billion, without providing independent verification.
In his comments, the US president highlighted discussions about oil trade, saying India would stop buying Russian oil and increase imports from the United States and, potentially, Venezuela.
The White House did not immediately respond to a request for further detail on the agreement’s terms.
Trump also touched on other policy topics in his remarks, including efforts toward a ceasefire in the Ukraine war and plans to establish strategic reserves of critical minerals for US industry, without elaborating.
The trade statement followed a briefing at the White House where Trump told media that breaking barriers to bilateral trade would strengthen economic ties between Washington and New Delhi.
