President Trump said Monday that he plans to lower tariffs on goods from India to 18%, from 25%, after Indian Prime Minister Narendra Modi agreed to stop buying Russian oil. The move comes after months of Trump pressing India to cut its reliance on cheap Russian crude. India has taken advantage of slacked Russian oil prices as much of the world has sought to isolate Moscow for its February 2022 invasion of Ukraine, the AP reports. Trump said that India would also start to reduce its import taxes on US goods to zero and buy $500 billion worth of American products.
- In a Truth Social post, Trump said Modi "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!" Trump said Modi is "one of my greatest friends and, a Powerful and Respected Leader of his Country."
- Modi posted on X that he was "delighted" by the announced tariff reduction and that Trump's "leadership is vital for global peace, stability, and prosperity." "I look forward to working closely with him to take our partnership to unprecedented heights," Modi said.
- Some of India's largest industries were already largely exempt from Trump's tariffs, including pharmaceuticals and consumer electronics, the Wall Street Journal reports. Smartphone exports from India to the US reached almost $5 billion from September to November 2025, up around 300% from a year earlier.
Trump has long had a warm relationship with Modi, only to find it complicated recently by Russia's war in Ukraine and trade disputes. Trump has struggled to make good on a campaign pledge to quickly end the Russia-Ukraine war and has been reluctant since his return to office to place pressure on Russian President Vladimir Putin. He has simultaneously imposed tariffs without going through Congress to achieve his economic and foreign policy aims. The announcement of the agreement with India comes as his special envoy, Steve Witkoff, and son-in-law Jared Kushner are expected to hold another round of three-way talks with Russian and Ukrainian officials in Abu Dhabi later this week aimed at finding an endgame to the war, a source tells the AP.
The announced tariff reduction comes days after India and the European Union reached a free trade agreement that could affect as many as 2 billion people after nearly two decades of negotiations. That deal would enable free trade on almost all goods between the EU's 27 members and India, covering everything from textiles to medicines, and bringing down high import taxes for European wine and cars.
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