Trump Slashes Tariffs on India After Modi Agrees to Halt Russian Oil Purchases

Washington / New Delhi — The United States has announced a sweeping reduction of tariffs on Indian goods after Prime Minister Narendra Modi agreed to phase out India’s purchases of Russian crude oil and increase imports from the United States and, potentially, Venezuela. The decision marks one of the most significant shifts in global trade and energy policy this year.

President Donald Trump confirmed the move on Monday, stating that U.S. tariffs on Indian imports will be cut to 18 percent, a sharp decline from the punitive rates of up to 50 percent imposed during heightened trade tensions. The tariff rollback follows a months-long standoff between Washington and New Delhi over India’s heavy reliance on discounted Russian oil amid the ongoing war in Ukraine.

Under the new arrangement, India is expected to significantly expand its purchases of American petroleum, defense equipment, aviation products, agricultural commodities, and other goods—an import basket that could exceed $500 billion in value over the long term, according to U.S. officials. The agreement also opens the door to Indian imports of Venezuelan crude, a notable development given previous U.S. sanctions on Caracas.

President Trump framed the deal as a strategic victory, both economically and geopolitically. Ending India’s dependence on Russian crude, he said, was part of a broader effort to limit Moscow’s revenue streams that support its war efforts in Ukraine.

“This is a tremendous deal for America and for India,” Trump said in his announcement. “India will now buy more of our oil and support our effort to stop funding the war in Ukraine.”

For India, the tariff reduction represents a major diplomatic win and an economic boost. Indian exporters—particularly in pharmaceuticals, textiles, and technology—stand to benefit from increased access to the U.S. market. As part of the bilateral concessions, India will also reduce or eliminate select tariffs on key American imports.

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