Washington. This Monday, the President of the United States, Donald Trump, announced that, following a telephone call with the Prime Minister of India, Narendra Modi, a trade agreement has been reached that will reduce the tariffs imposed on that country. India will cease importing oil from Russia and will begin acquiring it from Venezuela. They discussed several issues, including trade and the resolution of the conflict between Russia and Ukraine. Trump explained that he agreed to stop purchasing Russian oil and to increase purchases from the United States, and possibly from Venezuela. This will help to bring an end to the conflict in Ukraine. Trump stated that, at Modi’s request, they decided that a trade agreement between the United States and India would take effect immediately. This agreement entails that Washington will reduce tariffs on Indian products from 25% to 18%. According to Trump, Modi’s administration will strive to eliminate both tariff and non-tariff barriers for United States products. It has committed to increasing American imports and investing over 500 billion dollars in energy, technology, agricultural products, and coal from the United States.
Trump announces that India will stop buying oil from Russia and lowers tariffs.
