US will reduce tariffs and Modi will not buy Russian oil

The Republican also assured that the Prime Minister of India, Narendra Modi, committed to stop buying Russian oilwhich in his opinion will help end the war in Ukraine.

Instead, India will buy more oil from the US and, potentially, from Venezuelahe explained in a publication on his Truth Social network.

“It was an honor to speak with Prime Minister Modi of India this morning. He is one of my best friends and a powerful and respected leader of his country,” Trump begins his message in which he explains that they discussed various issues, including the war in Ukraine and the trade agreement.

Regarding the latter, the Republican announced that the United States will apply a reduced reciprocal tariff, from 25% to 18%.

India, for its part, will work to reduce its tariff and non-tariff barriers with the United States to zero.

According to Trump, Modi also committed to buy American products at a “much higher level”in addition to more than $500 billion in energy, technology, agricultural products and coal.

“Our excellent relationship with India will be further strengthened in the future,” he concludes.

Modi subsequently confirmed the reduction of US tariffs on Indian products to 18%, although it avoided corroborating the assumption New Delhi’s commitment to stop buying oil from Russia immediately.

“I am glad that under the principle of reciprocity, tariffs on Indian goods are reduced to 18%. This will boost ‘Made in India’ and strengthen our integration into global supply chains,” Modi simply noted on the social network X, celebrating the trade relief from the 25% that Washington had imposed as a pressure measure.

India, two agreements in one week

Precisely, almost a week ago, India and the European Union closed a trade agreementdescribed by both powers as the “mother of all agreements”, that will unite the second and fourth economies in the world in an unprecedented market of 2 billion consumers, after 18 years of negotiations.