US President Trump and Indian Prime Minister Modi Reach Trade Agreement

In a significant development for international trade relations, U.S. President Donald Trump announced that he has held a telephone conversation with Indian Prime Minister Narendra Modi, resulting in a consensus on key trade issues.

As part of the agreement, the United States will reduce its "reciprocal tariffs" on Indian goods from the current 25% down to 18%. In return, India has agreed to cease its purchases of Russian crude oil and increase its energy procurement from the United States, with potential sourcing from Venezuela also mentioned. Furthermore, India has committed to progressively eliminating tariffs and non-tariff barriers against the U.S. and has pledged to acquire over $500 billion in American products across sectors including energy, technology, agriculture, and coal.

This arrangement is effective immediately.

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