Trump, Modi speak on phone
Tariff on Indian goods to come down to 18 PC
NEW DELHI, Feb 2: India and the US agreed on a trade deal under which Washington will bring down reciprocal tariff on Indian goods to 18 per cent from current 25 per cent, US President Donald Trump said on Monday after a phone conversation with Prime Minister Narendra Modi.
The Prime Minister said he was delighted that “made in India products will now have a reduced tariff of 18 per cent”.
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“Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement,” Modi said on ‘X’ without mentioning the trade deal.
Trump claimed India will move forward to reduce its “tariffs and non tariff barriers” against the US to zero.
“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 per cent to 18 per cent,” the US president said on social media.
India will “likewise move forward to reduce their tariffs and non tariff barriers against the United States, to zero”.
Trump said Modi also committed to “buy American” at a much higher level, in addition to over USD 500 billion dollars of US energy, technology, agricultural, coal, and many other products.
“Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that get things done something that cannot be said for most,” he said.
In his remarks, Modi said, “When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation.”
“President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace,” he said.
“I look forward to working closely with him to take our partnership to unprecedented heights,” he added.
Trump said Modi and he also discussed ending the war between Russia and Ukraine.
“He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela,” the US president said.
“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. (PTI)
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