Trump announces US India trade agreement, reducing US tariffs on India to 18%

On February 3rd (UTC+8), US President Trump announced that Indian Prime Minister Modi has agreed to stop purchasing Russian oil and increase oil imports from the United States, while possibly importing oil from Venezuela. The two sides have reached a trade agreement, in which the United States will reduce its equivalent tariffs on India from 25% to 18%, and India will gradually eliminate tariffs and non-tariff barriers against the United States until they are completely eliminated.