US-India trade deal trims tariffs as Russia oil ties are cut
TL;DR Summary
The US and India announced a trade pact reportedly brokered by President Trump in which India’s tariffs will drop to 18% from 25%, non-tariff barriers will be reduced toward zero, and a 25% tariff linked to Indian purchases of Russian oil will be removed; Modi praised the agreement, and a White House official confirmed the terms as India agrees to stop buying Russian oil and to buy more US goods.
- US agrees to drop tariffs after India stops Russian oil purchases BBC
- Trump slashes tariffs on India after Modi agrees to stop buying Russian oil CNN
- Trump says U.S. and India reached trade deal, will lower tariffs immediately CNBC
- US cuts tariffs on India to 18%, India agrees to end Russian oil purchases Reuters
- Lower than Pakistan, China: In trade deal with US, India secures a favourable tariff rate Times of India
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