India-US Trade Deal Live: Amidst imposing tariffs on India, pressuring India to stop buying oil from Russia, and repeatedly claiming to have prevented India-Pakistan wars, Trump’s stance changed in a single phone call. US President Donald Trump spoke with Prime Minister Narendra Modi over the phone. The two leaders discussed several issues during the call.
The trade deal was finalised, and tariffs were reduced to 18 percent. Meanwhile, President Donald Trump issued a statement on his social media platform, Truth Social, regarding his conversation with Prime Minister Modi, saying, “It was an honor to speak with Prime Minister Modi of India. He is one of my best friends and a powerful and respected leader of his country.”
India-US Trade Deal Live
According to Trump, the two leaders discussed several important issues, including trade and ending the Russia-Ukraine war, and he claimed that Prime Minister Modi agreed to stop buying oil from Russia and instead purchase more oil from Venezuela. Trump said this would help end the ongoing war in Ukraine, where thousands of people are being killed every week.
Trump also claimed that, at Prime Minister Modi‘s request and based on their mutual friendship, a trade agreement had been reached between India and the United States. Under this agreement, the US would reduce tariffs on Indian goods from 25 percent to 18 percent, while India would move towards eliminating its tariffs and non-tariff barriers against the US.
“It was an Honor to speak with Prime Minister Modi, of India, this morning… He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine” – President Donald J. Trump 🇺🇸 pic.twitter.com/RD7PZ8S16z
— The White House (@WhiteHouse) February 2, 2026
India US Trade News Update
Along with the historic trade deal between the two countries, President Trump stated that Prime Minister Modi has also promised to make large-scale purchases from the US under the “Buy American” policy, which will include more than $500 billion worth of American energy, technology, agricultural products, coal, and other goods. Trump said that India-US relations will become even stronger in the future and that both leaders are people who get things done.
Trump Cuts Tariffs on India
Prime Minister Narendra Modi also praised Trump, saying that it was wonderful to speak with his dear friend President Trump and expressing his happiness that “Made in India” products will now face a lower tariff of 18%. He extended his sincere thanks to President Trump on behalf of the people of India for this wonderful announcement. Cooperation between two major economies and the world’s largest democracies serves the interests of their people and opens up vast opportunities for mutually beneficial collaboration.
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