Washington — President Trump announced Monday that he and Indian Prime Minister Narendra Modi had agreed on a trade deal that would lower tariffs on goods from India to 18% and halt India’s purchases of Russian oil.

ua post on Truth SocialThe president said Modi also pledged to buy American products at a much higher level and buy more than $500 billion in American energy, technology, agriculture, coal and other goods. The president said India will buy more oil from the US and “potentially” Venezuela.

“He has agreed to stop buying Russian oil and buy much more from the United States and, potentially, Venezuela,” Mr. Trump wrote. “This will help END THE WAR in Ukraine, which is going on right now, with thousands of people dying every week! Out of friendship and respect for Prime Minister Modi and, at his request, effective immediately, we have agreed to a trade agreement between the United States and India, under which the United States will charge a reduced reciprocal tariff, lowering it from 25% to 18%. They will also move forward in reducing their tariffs and non-Tariff barriers against the United States, to ZERO.”

Mr. Trump imposed customs duties on products from India by as much as 50% last year in an attempt to pressure the country to buy Russian oil. India is one of Russia’s biggest buyers of crude oil, and the country’s steady trade with Moscow during the Ukraine war has strained US-India relations.

Modi later confirmed the reduced duty rate on X.

“Delighted that Made in India products will now have a reduced duty of 18%,” Modi wrote. “Many thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement. When two major economies and the world’s largest democracies work together, it benefits our people and opens up enormous opportunities for mutually beneficial cooperation.”

India reached a landmark trade deal with the European Union last week, with some leaders say that Mr. Trump’s trade policies have prompted the two sides to finalize a deal that has been years in the making.