India-US Trade Deal LIVE: Tariffs Lowered To 18%; EAM Welcomes Deal, Says 'Will Strengthen Make In India'

India-US Trade Deal LIVE Updates: US President Donald Trump on Monday announced that the United States and India have reached a trade deal to lower reciprocal tariffs. He said that following a phone call with Prime Minister Narendra Modi, the US would reduce tariffs on Indian goods from 25 per cent to 18 per cent with immediate effect. In return, Trump claimed India would cut its tariffs and non-tariff barriers on US products to “zero.”

In a post on Truth Social, Trump described PM Modi as a close friend and a respected leader, adding that India had also agreed to “stop buying Russian Oil” and increase energy purchases from the US. He further said India would significantly ease trade barriers for American goods.

Responding on X, Prime Minister Modi said he was delighted by the discussion with his “dear friend President Trump” and welcomed the reduction in tariffs on Made in India products. A White House official later told ANI that the US would also withdraw an additional 25 per cent tariff imposed over India’s purchase of Russian oil, stating that India has to “cease, not just reduce, Russian oil purchases.”

External Affairs Minister S Jaishankar welcomed the deal, saying it would boost jobs, economic growth, innovation, and strengthen the Make in India initiative.