Updated: Feb 03, 2026 8:06:17 am IST
Announcing the deal, US President Donald Trump described PM Modi as one of his ‘greatest friends’ and said the two leaders discussed not only trade but also ending the Ukraine-Russia war.
Live updates of India-US trade agreement: India and the United States reached a much-awaited trade deal after several rounds of talks as PM Modi and President Donald Trump announced the deal on Monday evening, which was introduced by US Ambassador to India Sergio Gore just hours earlier. Under the agreement, the US President said India has agreed to stop buying oil from Russia and buy more oil from the United States and potentially Venezuela. On the other hand, duty on India’s exports to the US has been reduced from 25% to 18%.
While President Trump’s post on Truth Social only talked about reciprocal tariffs, a White House official confirmed to HT that the other 25%, which was imposed as a penalty on India for buying Russian oil, would be removed “as part of India’s agreement to stop buying Russian oil.” “The final tariff will be 18%,” the official said.
The deal was concluded after talks between the two leaders on Monday. While PM Modi shied away from mentioning the trade deal, ministers including Ashwini Vaishnav and Piyush Goyal confirmed on Twitter that a trade deal has been agreed upon.
Live updates of India-US trade agreement. key points
What did PM Modi say
After US President Donald Trump announced the deal through his Truth social account, PM Modi took to Twitter (formerly Twitter) and said it was “wonderful” to talk to his “dear friend” President Trump and thanked him on behalf of Indians.
PM Modi wrote, “It was great to talk to my dear friend President Trump today. Glad that products manufactured in India will now attract a lower rate of 18%. On behalf of the 1.4 billion people of India, many thanks to President Trump for this wonderful announcement.”
He said, “When two major economies and the world’s largest democracies work together, it benefits our people and opens up 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. I look forward to working closely with him to take our partnership to unprecedented heights.”
what did donald trump say
Announcing the deal, US President Donald Trump described PM Modi as one of his ‘greatest friends’ and said the two leaders discussed not only trade but also ending the Ukraine-Russia war.
“He agreed to stop buying Russian oil and buy a lot more from the United States and potentially Venezuela. This will help end the war in Ukraine that is going on right now, in which thousands of people are dying every week!” Trump wrote.
He said the two countries agreed to a trade agreement between the United States and India, “under which the United States will impose lower reciprocal tariffs, reducing it from 25% to 18%.”
“They will likewise move to reduce their tariff and non-tariff barriers against the United States to zero. The Prime Minister also committed to “Buy American” at a high level, in addition to over $500 billion of American energy, technology, agriculture, coal and many other products. Our wonderful relationship with India will go even stronger going forward. Prime Minister Modi and I are two people who make things happen, something that cannot be said for our attention to this matter. Thank you for giving!” He added.
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While President Trump’s post on Truth Social only talked about reciprocal tariffs, a White House official confirmed to HT that the other 25%, which was imposed as a penalty on India for buying Russian oil, would be removed “as part of India’s agreement to stop buying Russian oil.” “The final tariff will be 18%,” the official said.
The deal was concluded after talks between the two leaders on Monday. While PM Modi shied away from mentioning the trade deal, ministers including Ashwini Vaishnav and Piyush Goyal confirmed on Twitter that a trade deal has been agreed upon.
Live updates of India-US trade agreement. key points
What did PM Modi say
After US President Donald Trump announced the deal through his Truth social account, PM Modi took to Twitter (formerly Twitter) and said it was “wonderful” to talk to his “dear friend” President Trump and thanked him on behalf of Indians.
PM Modi wrote, “It was great to talk to my dear friend President Trump today. Glad that products manufactured in India will now attract a lower rate of 18%. On behalf of the 1.4 billion people of India, many thanks to President Trump for this wonderful announcement.”
He said, “When two major economies and the world’s largest democracies work together, it benefits our people and opens up 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. I look forward to working closely with him to take our partnership to unprecedented heights.”
what did donald trump say
Announcing the deal, US President Donald Trump described PM Modi as one of his ‘greatest friends’ and said the two leaders discussed not only trade but also ending the Ukraine-Russia war.
“He agreed to stop buying Russian oil and buy a lot more from the United States and potentially Venezuela. This will help end the war in Ukraine that is going on right now, in which thousands of people are dying every week!” Trump wrote.
He said the two countries agreed to a trade agreement between the United States and India, “under which the United States will impose lower reciprocal tariffs, reducing it from 25% to 18%.”
“They will likewise move to reduce their tariff and non-tariff barriers against the United States to zero. The Prime Minister also committed to “Buy American” at a high level, in addition to over $500 billion of American energy, technology, agriculture, coal and many other products. Our wonderful relationship with India will go even stronger going forward. Prime Minister Modi and I are two people who make things happen, something that cannot be said for our attention to this matter. Thank you for giving!” He added.
Follow all updates here:
February 03, 2026 8:06:16 am First
India-US trade deal live updates: What PM Modi said on the trade deal. full post
India-US trade deal live updates: Announcing the trade deal between India and the US, PM Modi thanked Trump on behalf of Indians and lauded his efforts for peace and stability across the world.
“It was great to speak with my dear friend President Trump today. Glad that products made in India will now have a reduced tariff of 18%. On behalf of the 1.4 billion people of India, thank you very much to President Trump for this wonderful announcement.
When two major economies and the world’s largest democracies work together, it benefits our people and opens up immense opportunities for mutually beneficial cooperation.
President Trump’s leadership is critical to global peace, stability, and prosperity. India fully supports their efforts for peace.
I look forward to working closely with them to take our partnership to unprecedented heights,” PM Modi wrote on X.
February 03, 2026 8:00:31 am First
India-US trade deal live updates: What we know so far about the trade deal
Live updates of India-US trade agreement:
– America will reduce reciprocal duty on Indian goods from 25% to 18%
-PM Modi confirmed 18% tariff rate in a public post
-Trump says the new US-India trade agreement has come into effect with immediate effect.
-Trump claims that India will buy American goods worth more than $500 billion.
-Trump claims India will reduce tariff and non-tariff barriers to zero
-Trump claims India will stop buying Russian oil and shift purchases to the US and possibly Venezuela
-PM Modi’s tweet confirms tariff relief but does not mention oil or purchase commitments
February 03, 2026 7:42:40 am First
India-US trade deal live updates: How Trump announced the India-US trade deal. full post
India-US trade deal live updates: US President Donald Trump announced the trade deal through a post on Truth Social.
The full text of his long post was read,
“It was an honor to speak with Prime Minister Modi of India this morning. He is one of my best friends and a powerful and respected leader of his country. We talked about many things, including trade and ending the war with Russia and Ukraine. He agreed to stop buying Russian oil and buy a lot from the United States and potentially Venezuela. This will help end the war in Ukraine that is happening right now, in which thousands of people are dying every week! Friendship for Prime Minister Modi And, effective immediately, we agreed to a trade agreement between the United States and India under which the United States will reduce its tariffs from 25% to 18%, as well as on more than $500 billion of our imports of energy, agriculture, and coal. The relationship will be even stronger in future. Prime Minister Modi and I are two people who work, thank you very much for your attention to this matter!”
