1 hour ago
Last Updated:February 02, 2026, 23:14 IST
The US and India finalized a landmark trade deal, reducing tariffs on Indian imports from 50 percent to 18 percent, credited to Donald Trump and PM Modi's strong relationship.
Trump and Modi (Image: Reuters/File)
The United States and India have reached a landmark trade deal after months of negotiations, with the Donald Trump administration cutting down tariffs on Indian imports from 50% to 18%, envoy Sergio Gor confirmed in an exclusive conversation with CNN-News18.
“All the credit goes to President Trump and PM Modi. The two leaders have a great personal relationship, which has carried the deal forward. The number that will be finalised will be 18%," Gor said.
Calling the announcement an “incredible news", Gor said this is a “new era" and asserted that the US is open to business.
Trump spoke with Prime Minister Narendra Modi earlier today and later announced that the trade deal with India, cutting down tariffs to 25%.
PM Modi said when two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation.
The Prime Minister also said that President Trump’s leadership is vital for global peace, stability, and prosperity.
“Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement.
When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation.
President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. I look forward to working closely with him to take our partnership to unprecedented heights.
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First Published:
February 02, 2026, 23:00 IST
News business US Brings Down India Tariffs To 18% From 50%, Envoy Sergio Gor Says
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