Donald Trump has announced he is cutting tariffs on India after prime minister Narendra Modi agreed to stop buying Russian oil.
After a call with Modi on Monday, Trump on Truth Social said: “This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!”
India is the second largest purchaser of Russian crude and the imports have increased tensions between the two countries.
Trump said that India, as agreeing to stop buying Russian oil, would also buy more oil from the United States and potentially Venezuela.
“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% to 18%,” Trump said in a Truth Social media post after a call with Modi.
Modi also committed to buy more than $500bn dollars worth of US energy, technology, agricultural and other products, Trump added.
“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. Thank you for your attention to this matter!” wrote Trump.
Reuters contributed reporting