US and India Strike Major Trade Deal Following Trump-Modi Call, Tariff Slashed

Washington. A significant trade agreement has been reached between the two nations following a telephone conversation between US President Donald Trump and Indian Prime Minister Narendra Modi. Trump announced the trade deal via his social media platform 'Truth Social,' stating that the tariff imposed on Indian goods would be reduced from 25 percent to 18 percent.

The most crucial aspect of this agreement is India's decision to cease the purchase of Russian oil. According to Trump, Prime Minister Modi has agreed to purchase more oil from the US as an alternative to Russian oil, and potentially import oil from Venezuela as well. The additional 25 percent punitive tariff imposed by the US on Delhi for purchasing Russian oil will now also be lifted.