Trump: The U.S. and India reach trade agreement, mutually reducing tariffs

[Epoch Times, February 3, 2026 report] (Comprehensive report by Epoch Times reporter Zhang Ting) On Monday (February 2), U.S. President Trump stated that he had a phone conversation with Indian Prime Minister Modi. The U.S. and India have reached a trade agreement, with both countries agreeing to lower tariffs, and Modi agreeing to stop purchasing Russian oil and instead buy more products made in the U.S. President Trump posted on his social media platform "Truth Social" on Monday that he was honored to have a phone call with Indian Prime Minister Modi this morning. "We discussed many topics, including trade and ending the war between Russia and Ukraine. He agreed to stop buying Russian oil and to buy more oil from the U.S., possibly from Venezuela," Trump said. "This will help end the ongoing war in Ukraine, a war that is claiming thousands of lives every week!" President Trump also announced that the U.S. and India had reached a trade agreement. "Out of friendship and respect for Prime Minister Modi, and based on his request, we have reached a U.S.-India trade agreement that is effective immediately," Trump said. The president praised Modi as a "strong and respected leader" of India and one of his greatest friends. Trump also explained some details of the agreement. He said that under the agreement, the U.S. will lower its reciprocal tariff on India from 25% to 18%. At the same time, India will reduce tariffs and non-tariff barriers on the U.S. to zero. The Indian Prime Minister also pledged to increase purchases of over $500 billion worth of U.S. energy, technology, agricultural products, coal, and many other products, and to raise the "Buy American" level even higher. "Our excellent relationship with India will become even stronger in the future. Prime Minister Modi and I are both people who get things done, which most people cannot do," he said. Indian Prime Minister Modi posted on the social media platform X on Monday, "I am delighted to have spoken with my dear friend President Trump today, and I am delighted that the tariff on Indian-made products will be reduced to 18%. On behalf of 1.4 billion Indians, I sincerely thank President Trump for announcing this good news." "When two major economies, the world's two largest democracies, work together, it benefits our people and unlocks tremendous opportunities for mutually beneficial cooperation," he said. "President Trump's leadership is crucial for global peace, stability, and prosperity. India fully supports his efforts for peace." "I look forward to working closely with him to elevate our partnership to unprecedented new heights," he said. Trump had previously imposed an additional 25% tariff on Indian goods in August of the previous year because India was purchasing Russian oil, bringing the total tariff to 50%. According to a report by Bloomberg, a knowledgeable Indian official revealed that the U.S. had agreed to cancel the additional 25% tariff. This official also confirmed that India had made a purchase commitment to buy $500 billion worth of U.S. goods over the next five years, covering multiple sectors, including technology products such as data centers, as well as aircraft, precious metals, coking coal, and energy. Responsibility Editor: Lin Yan#