So, just like that — a phone call, a post on Truth Social, and boom. A new US-India trade deal.
US President Donald Trump says he’s struck an agreement with India’s Prime Minister Narendra Modi.
It will slash US tariffs on Indian goods from a punishing 50% down to 18%.
In return? India, Trump claims, will drop its trade barriers to zero and stop buying Russian oil altogether.
Modi sounded upbeat, calling the deal “wonderful.”
He said cooperation between the world’s two largest democracies would unlock “immense opportunities.”
Trump, never shy on numbers, added that India had committed to buying more than $500bn worth of US energy, tech, farm and coal products.
Tariff Adjustments Announced
Context matters. Those 50% tariffs, imposed last August — partly as punishment for India’s Russian oil purchases — hammered Indian exports.
Delhi has since been shopping around for partners, even sealing a massive free trade deal with the EU just days ago.
Some see this US deal as Washington’s answer to that. “Markets will cheer,” said analyst Terry Haines.
But not everyone’s clapping. US small business groups argue the new tariff rate is still six times higher than before.
“That’s not relief,” said Dan Anthony. “It’s a permanent tax hike.”
A win? Maybe. A compromise? Definitely. And in global trade, nothing ever comes free.
