US President Donald Trump and Indian Prime Minister Narendra Modi have agreed to a new trade deal reducing US tariffs on Indian goods from 25% to 18%. The agreement also ends a 25% penalty linked to India’s purchase of Russian oil.
Key points:
• India will reduce trade barriers to zero for US goods.
• Modi committed to buying over $500bn (£366bn) in US energy, technology, agriculture, and coal products.
• Trump said the deal followed discussions on trade and the Russia-Ukraine war.
• The announcement comes shortly after India signed a landmark trade deal with the EU, expected to double EU exports to India by 2032.
• Some US small business groups criticised the deal, warning the new tariff rate remains high compared to pre-2025 levels.
ℹ️ BBC News
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