Trump says US, India have trade deal after Modi – Business News
WASHINGTON — President Trump introduced a new US-India trade deal Monday after a cellphone call with Prime Minister Narendra Modi — saying the settlement might help choke off Russia’s warfare machine in Ukraine.
“He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela,” Trump stated of Modi on Truth Social, saying US tariffs on New Delhi could be slashed to 18%.
“This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!” he added.
President Trump has introduced that the US and India have a trade deal following a cellphone call with Prime Minister Narendra Modi. Getty Images
Trump has been urging India — the second-largest purchaser of Russian crude — to divest from Moscow for months because the Kremlin unloaded the fossil fuel at a low cost within the face of heavy sanctions from the West.
In August, the president slapped 50% tariffs on all Indian merchandise to strain Modi to stop shopping for Russian oil.
Despite the warning, the world’s largest democracy bought roughly 1.5 million barrels every day, based on international trade knowledge.
Monday represented a breakthrough in that push, with Trump saying Modi “also committed to ‘BUY AMERICAN,’ at a much higher level, in addition to over $500 BILLION DOLLARS of U.S. Energy, Technology, Agricultural, Coal, and many other products.”
Prime Minister Narendra Modi pays homage to Mahatma Gandhi on his death anniversary, additionally noticed as Martyrs Day, at Rajghat on January 30, 2026, in New Delhi, India. ZUMAPRESS.com
“Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff,” Trump went on.
“Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that GET THINGS DONE, something that cannot be said for most.”
Trump didn’t present a timeline for when India would stop buying Russian oil.
Modi lauded Trump as his “dear friend” and welcomed the diminished tariffs in a post to X — however didn’t point out the suspension of India’s purchases of Russian oil
“Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement,” the PM wrote. “When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation.”
“President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. I look forward to working closely with him to take our partnership to unprecedented heights,” he added.
The Indian authorities didn’t instantly reply to a request for more info confirming the Russian oil divestment.
Venezuela’s crude could possibly be a viable different for India, which has oil refineries specializing in the thick, sludge-like product it has been buying from Moscow.
“Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%,” Trump went on. AP
Trump final month stated he supposed to sell “between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil” at market price.
The price per barrel of crude oil dropped from roughly $65 on Friday to round $61 on Monday after phrase of Trump’s impending deal with India broke on Saturday.
China stays the world’s largest purchaser of Russian oil. While Trump didn’t problem tariffs on Beijing for its purchases of Moscow’s crude, the president steered over the weekend that he could be open to a deal with Beijing on buying Venezuelan oil.
“China is welcome to come in,” he stated, “and would make a great deal on oil.”
