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By Rodrigo Santos Andrade
Trump slashes tariffs on India to 18% after Modi agrees to stop buying Russian oil
visibility comment0 event February 3, 2026 timer 09:36
After months of trade tensions, US President Donald Trump said he is cutting tariffs on Indian goods to 18% from 50%. This comes after a phone call with Indian Prime Minister Narendra Modi, who promised to stop buying Russian oil and step up purchases of American goods. Mr Trump said India will spend "over US$500 billion" on goods across various sectors, from energy to tech and agriculture. Indian officials have lauded the deal, although it’s unclear which products will see zero duties and which could face reductions in phases. Rebecca Bundhun reports from Mumbai.
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