Donald Trump stated that he had reached an agreement with Indian Prime Minister Narendra Modi on a new trade deal. Modi reportedly agreed to halt purchases of Russian oil and instead shift to larger imports from the United States-and potentially Venezuela-claiming that this move would help end the war in Ukraine.

Under the pact, the United States will lower its tariff on Indian imports to 18 percent, down from 25 percent. Modi promised that India would reduce its own tariffs and non‑tariff barriers to zero for U.S. goods.

The agreement also calls for a significant increase in U.S. exports to India, covering energy, technology, agriculture, and coal, with a planned value exceeding $500 billion.