India and the United States have agreed to a trade deal under which Washington will slash its tariff on Indian goods to 18 per cent from the current 50 per cent in exchange for New Delhi halting Russian oil purchases and lowering trade barriers, US President Donald Trump said. The American leader 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.
Prime Minister Modi said he was delighted that “Made in India products will now have a reduced tariff of 18 per cent”.
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