India-US talks highlights: Tariffs on India lowered from 50% to 18% as Trump announces deal

INdia-US talks highlights: US embassador to republic of india Sergio Gor has revealed that chair Donald ruff has spoken with undercoat Minister Narendra Modi. Taking to X, the newly appointed US envoy did not reveal the nature of this phone call. However, Gor's post comes as India and the US work towards sealing a bilateral trade deal.Trump on Monday said he had agreed to a trade deal with India, and that India also agreed to stop buying Russian oil and to buy more from the United States and, potentially, Venezuela.This live blog has ended. Click here to track latest updates of India-US trade deal.“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% to 18%,” Trump said in a social media post following a call with Indian Prime Minister Narendra Modi.Modi also committed to buying more than $500 billion worth of US energy, technology, agricultural, and other products, Trump added.Prime Minister Narendra Modi has confirmed and welcomed the trade deal with the United States on Monday.“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,” he wrote on X.“When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation,” Modi added further.“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,” the Indian PM added further on his social media post.PM Modi had also spoken with President Trump in December last year, and the two leaders had agreed to work closely to address shared challenges and advance common interests.During the telephone conversation, the two leaders reviewed the steady progress in India-US bilateral relations and exchanged views on key regional and global developments."Had a very warm and engaging conversation with President Trump. We reviewed the progress in our bilateral relations and discussed regional and international developments. India and the US will continue to work together for global peace, stability and prosperity," PM Modi had said in a post on X.