India-U.S. trade deal LIVE: Trump cuts India tariffs, says Modi will stop buying Russian oil
The Hindu
India-U.S. trade deal LIVE: PM Modi announced “Made in India” products will now attract a reduced tariff of 18% in the U.S., on February 3, 2026. Follow The Hindu for more updates.
U.S. President Donald Trump announced a trade deal with India on Monday (February 2, 2026), saying that Prime Minister Narendra Modi has promised to stop buying Russian oil over the war in Ukraine.
Also read | U.S. tariff impact: India is finding newer markets, strengthening old trade routes to compensate
Mr. Trump said he was cutting tariffs on Indian goods to 18%. He had previously levied 25% reciprocal tariffs, plus an additional 25% for New Delhi’s purchases of Moscow’s oil.
“Delighted that Made in India products will now have a reduced tariff of 18%,” said Mr. Modi thanking Mr. Trump. “When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation,” said Mr. Modi in his post on X.
(With inputs from agencies)
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