Trump Announces Trade Agreement with India and Halt to Delhi’s Purchase of Russian Oil
On Monday, U.S. President Donald Trump announced a “trade agreement” with India following a phone call with Prime Minister Narendra Modi, indicating that New Delhi has agreed to stop buying Russian oil, with the possibility of replacing it with oil from the U.S. or Venezuela.
Trump clarified via his platform Truth Social that Modi agreed to halt the imports of Russian oil and pledged to purchase more American oil, possibly Venezuelan, emphasizing that this move comes “out of friendship and respect.”
The American president noted that Washington will reduce tariffs on Indian imports from 25% to 18%, while India will eliminate tariffs on American products as part of an effort to strengthen trade relations between the two countries.
