Trump Claims Trade Deal with India has been Cut

President Trump said that the US and India had agreed to a trade deal following talks with Indian Prime Minister Narendra Modi, claiming the baseline US tariff rate on Indian goods would drop to 18% from 25%, Yahoo Finance reported.

India and the European Union announced a trade deal last week, which the EU described as the “mother of all deals.” (Photo: Narendra Modi)

Trump also said Modi had “agreed to stop buying Russian oil,” which would further reduce US tariffs on India. The White House confirmed that an additional 25% “secondary” tariff imposed over India’s purchases of Russian oil would also be lifted.

“Our amazing relationship with India will be even stronger going forward,” Trump wrote on Truth Social.

However, there is no confirmation that a deal has been finalized, particularly given India’s longstanding reliance on Russian crude.

The apparent agreement comes as US trade partners have moved to finalize long-negotiated deals, pushing back against Trump’s tariff regime.

India and the European Union announced a trade deal last week, which the EU described as the “mother of all deals.” Meanwhile, Trump has recently issued new tariff threats against Canada and Mexico.