On Monday, Trump announced he’d reached a trade agreement with Modi that would reduce tariffs on India’s goods to 18%, lower than most of its peers in Asia. A punitive 25% duty that the US leader had slapped on India for buying Russian oil was also scrapped. In turn, Trump said, India agreed to purchase $500 billion of US goods, switch to buying Venezuelan oil, and reduce tariffs on US imports to zero. Modi’s government hasn’t confirmed those details and neither side has published any documentation to codify the agreement.







