Trump Tariff Cut Live Updates: US President Donald Trump on Monday announced a trade deal with India that slashes US tariffs on Indian goods to 18 per cent from 50 per cent in exchange for India halting Russian oil purchases and lowering trade barriers. Trump announced the deal on social media following a call with Indian Prime Minister Narendra Modi, noting that India would now buy oil from the US and potentially Venezuela.
"Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25 per cent to 18 per cent," Trump posted on his social media platform Truth Social.
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