WASHINGTON: US President Donald Trump said on Monday that he had agreed to a trade deal with India, and that India also agreed to stop buying Russian oil and buy more from the United States and potentially Venezuela.
“Out of friendship and respect for Prime Minister Modi and, at his request, effective immediately, we have agreed to a trade agreement between the United States and India, whereby the United States will charge a reduced reciprocal tariff, reducing it from 25% to 18%,” Trump said in a social media post after a call with Indian Prime Minister Narendra Modi.
Modi also pledged to buy more than $500 billion in American energy, technology, agricultural and other products, Trump added.
This is a developing story and is being updated with more details.
