Trump announces India trade deal, cuts tariffs to 18% after call with PM Modi

US President Donald Trump on Monday announced that he would reduce reciprocal tariffs from 25 per cent to 18 per cent, shortly after saying he had spoken with Prime Minister Narendra Modi. The announcement signalled a thaw in India-US ties, which had been marred by steep tariffs. Responding to Trump’s Truth Social post, Prime Minister Narendra Modi said “Made in India” products will now attract a reduced tariff of 18 per cent. "Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement," PM Modi tweeted. According to Reuters, the Trump administration will lift the additional 25% tariff imposed over India’s purchases of Russian oil. “We are also dropping the 25% tariff given India’s agreement to stop buying Russian oil,” a White House official said. Before Trump’s big announcement, there was significant buildup, with the US President sharing an image of himself with PM Modi on the Truth Social platform. The post contained no text, ...