US EditionTrump plans to lower tariffs on Indian goods to 18% after India agreed to stop buying Russian oil
The deal cuts U.S. tariffs on Indian goods to 18% and ends a 25% penalty linked to Russian oil, with India committing to buy $500 billion in U.S. goods, Trump said.
- On Monday, February 2, 2026, US President Donald Trump announced lowering tariffs on Indian goods from 25% to 18% after Indian Prime Minister Narendra Modi agreed to stop buying Russian oil.
- The dispute grew after India increased purchases of discounted Russian oil following the 2022 Russian invasion of Ukraine, leading Trump to impose reciprocal and Russia-linked duties that pushed tariffs as high as 50%.
- Trump and Indian officials said the deal includes purchase pledges, with Modi committing to buy over $500bn of U.S. goods and to reduce tariffs and non‑tariff barriers to zero.
- News reports described the agreement as deescalating bilateral tensions, while Indian exports to the US that had plunged after Trump's tariffs may now recover.
- Amid other trade deals, the announcement follows the European Union‑India free trade deal and precedes Abu Dhabi talks with Russian and Ukrainian officials later this week.
268 Articles
268 Articles
According to US President Trump, the US and India have agreed on tariff reductions. Moreover, India will no longer buy oil from Russia and invest in the US. India's Prime Minister Modi only confirmed the customs deal.
US, India strike trade deal
The US and India struck a trade deal to lower American duties on Indian goods, stabilizing the countries’ relationship after months of strain. US President Donald Trump, who had hit New Delhi with steep tariffs over its economic ties to Moscow, said Monday that India would stop buying Russian oil in exchange for the tariff reduction, and would replace it with US and Venezuelan oil. India’s leader, Narendra Modi, said he was “delighted” by the de…
US & India Reach Trade Deal, Trump Claims India Will Stop Purchasing Russian Oil
Already a subscriber? Make sure to log into your account before viewing this content. You can access your account by hitting the “login” button on the top right corner. Still unable to see the content after signing in? Make sure your card on file is up-to-date. President Trump has announced that the United States has finalized a trade agreement with India. Getting into it: If you’re unaware, the United States imposed a 25% tariff on In…
US cuts India tariffs, India to stop buying Russian oil
US President Donald Trump has said he had agreed on a trade deal with India that slashes US tariffs on Indian goods to 18% from 50% in exchange for India lowering trade barriers, stopping its purchases of Russian oil and buying oil instead from the US and potentially Venezuela.
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