In a post on social media platform Truth Social following a call with Modi., he said: “It was an honour to speak with Prime Minister Modi, of India, this morning. He is one of my greatest friends and, a powerful and respected leader of his country. We spoke about many things, including trade, and ending the war with Russia and Ukraine.
“He agreed to stop buying Russian oil, and to buy much more from the United States and, potentially, Venezuela. This will help end the war in Ukraine, which is taking place right now, with thousands of people dying each and every week!
“Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a trade deal between the US and India, whereby the US will charge a reduced reciprocal tariff, lowering it from 25% to 18%. They will likewise move forward to reduce their tariffs and non-tariff barriers against the US, to zero. The prime minister also committed to ‘buy American’ at a much higher level, in addition to over $500 billion dollars of US energy, technology, agricultural, coal, and many other products. Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that get things done, something that cannot be said for most.”
https://truthsocial.com/@realDonaldTrump/116002095109616255
Modi said it was “wonderful to speak with my dear friend”
He said he was “delighted” that Indian products would now have a reduced tariff of 18%.
“Big thanks to President Trump on behalf of the 1.4b people of India for this wonderful announcement. When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation. President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. I look forward to working closely with him to take our partnership to unprecedented heights.”
Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement.
When two large economies and the…
— Narendra Modi (@narendramodi) February 2, 2026
Trade tensions escalated in August when Trump doubled tariffs on Indian goods to 50%, including a 25% levy in response to India’s imports of Russian crude.
However, US Treasury Secretary Scott Bessent last week signalled the potential removal of an additional 25% tariffs on India following a sharp reduction in Indian imports of Russian oil.
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This is a developing story