Trump lowers India tariffs as Modi pledges to end Russian oil purchases

cross-posted from: https://news.abolish.capital/post/24685

The US president is seeking buyers for US-controlled Venezuelan crude following the kidnapping of President Nicolas Maduro last month

US President Donald Trump announced on 2 February that he would reduce the additional 25 percent tariff on Indian goods to 18 percent after Prime Minister Narendra Modi agreed to stop buying Russian oil.

Trump announced the decision after speaking with Modi by phone.

Washington and New Delhi also agreed to eliminate "Tariffs and Non-Tariff Barriers against the US to ZERO," Trump wrote on social media.

India will also purchase "over $500 BILLION DOLLARS of US Energy, Technology, Agricultural, Coal, and many other products," Trump added.

"Our amazing relationship with India will be even stronger going forward," the US president stressed.

Rather than turning to Iran to replace Russian supplies, India will begin making purchases of Venezuelan oil, according to Trump.

"India is coming in, and they're going to be buying Venezuelan oil as opposed to buying it from Iran. So, we've already made that deal, the concept of the deal," Trump told reporters on board Air Force One on Saturday.

The South American nation's oil is under White House control following the US military's abduction of President Nicolas Maduro and his wife Cilia Flores in early January.

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