Trump Announces Initial Trade Deal With India, Cutting Tariffs to 18%
AI Summary
In February 2026, President Trump announced a preliminary trade deal with India, reducing U.S. tariffs on Indian goods from 25% to 18%. The agreement aims to de-escalate trade tensions initiated by Trump's global trade war. In return, India has pledged to reduce tariffs and non-tariff barriers on U.S. products to zero and cease purchasing Russian oil. The deal, effective immediately, was announced via social media by both leaders, with Prime Minister Modi expressing delight and emphasizing the benefits of cooperation between the two nations. Trump stated the deal was made out of friendship and respect for Modi, who he described as "one of my greatest friends." The agreement is intended to foster economic benefits and promote global peace and stability.
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