Trump and India Reach Trade Agreement to Halt Russian Oil Imports
President Donald Trump announced a new trade agreement with India on Monday, following a phone call with Prime Minister Narendra Modi. The agreement includes India's commitment to cease importing Russian oil, which will be replaced by increased purchases of American oil and potentially Venezuelan oil.
Trump stated on his platform "Truth Social" that Modi "has agreed to stop buying Russian oil" and has committed to purchasing American products across various sectors, including energy, technology, and agriculture, amounting to over $500 billion.
In a gesture of goodwill towards Modi, the United States will reduce tariffs on Indian imports from 25% to 18%, while India will eliminate tariffs on American goods.
This agreement follows the imposition of an additional 50% tariff on Indian exports by the U.S. in August 2025, in response to India's purchases of Russian oil.
The development comes at a time when India is looking to ease trade tensions with the United States and diversify its product markets following the impact of stringent tariffs.
