US President Donald Trump announced on Monday that the United States and India have reached a trade agreement to immediately reduce tariffs on each other's goods. In the same post, Trump stated that Modi has committed to «stopping the purchase of Russian oil, increasing purchases from the United States, and possibly from Venezuela». Trump wrote in a post on the Truth Social platform following a phone call with Indian Prime Minister Narendra Modi that the latter also agreed to purchase American products «in much larger quantities» as part of the deal. Additionally, under the current trade agreement, the United States will immediately reduce mutual tariffs from 25% to 18% on Indian goods.
