US will reduce tariffs and Modi will not buy Russian oil

US President Donald Trump announced this Monday a trade agreement with India through which Washington will apply a reduced reciprocal tariff, from 25% to 18%.

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

Instead, India will buy more oil from the US and, potentially, from Venezuela, he 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 buying 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.

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