US President Donald Trump announced a trade deal between India and the United States on Monday, adding that the US reciprocal tariffs on India would be slashed to 18 per cent.
“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. The agreement is expected to revive growth in manufacturing and services, strengthen energy security through diversified oil and gas supplies, create space for domestic economic reforms, and enhance India’s global trade and diplomatic standing.
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