500 billion dollar deal, no Russian oil, 18% tariffs: Inside India US trade deal

US chair Donald ruff on mon proclaimed a young trade deal with India featuring lower reciprocal tariffs and expanded market access, while claiming that New Delhi would halt purchases of Russian oil and sharply increase imports of American goods. India has now confirmed the tariff reduction portion of the agreement, with Prime Minister Narendra Modi welcoming the move in a public statement after the call.In a social media post, PM Modi said he had a “wonderful” conversation with Trump and thanked him for lowering tariffs on Made in India products to 18 per cent. However, the Indian statement did not mention any commitment on stopping Russian oil purchases or reducing all tariffs and non-tariff barriers to zero, as claimed by Trump.India confirms tariff cut after Trump–Modi callTrump said the US would reduce reciprocal tariffs on Indian goods from 25 per cent to 18 per cent under a new trade deal agreed after his phone call with Modi. Shortly after, Modi confirmed the tariff cut in a post on social media. “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,” Modi wrote.He added that cooperation between the two countries would unlock “immense opportunities for mutually beneficial cooperation” and said Trump’s leadership was “vital for global peace, stability, and prosperity,” with India fully supporting his efforts for peace.Modi said he looked forward to working closely with Trump to take the partnership to “unprecedented heights.”$500 billion purchases, Russian oil halt: Trump's claimsIn his Truth Social post, Trump said India had agreed to a broader package beyond tariff cuts. He claimed India would reduce its tariffs and non-tariff barriers against US goods to zero and commit to buying more than $500 billion worth of US energy, technology, agricultural products, coal and other goods.Trump also said India agreed to stop buying Russian oil and instead purchase more energy from the United States and potentially Venezuela, linking the move to efforts to end the Russia–Ukraine war.While India has confirmed the tariff reduction, it has not publicly confirmed Trump’s claims regarding Russian oil purchases, zero tariffs and non-tariff barriers, or the $500 billion buying commitment.India-US trade deal: What we know so farUS to cut reciprocal tariffs on Indian goods from 25% to 18%PM Modi confirmed the 18% tariff rate in a public postTrump says a new US–India trade deal is effective immediatelyTrump claims India will buy over $500 billion in US goodsTrump claims India will reduce tariffs and non-tariff barriers to zeroTrump claims India will stop buying Russian oil and shift purchases to US and possibly VenezuelaPM Modi's tweet confirms tariff relief but does not mention oil or purchase commitments India-US trade tensionsThe statement followed a social media post by the US Ambassador to India saying Trump had spoken with Modi and that further details would follow. Trump also shared posts featuring India Gate and a magazine cover image of himself and Modi.The announcement comes amid earlier strain in India–US ties after Washington last year imposed 50 per cent tariffs on India, including an additional 25 per cent linked to India’s purchase of Russian oil, along with other diplomatic disagreements.