President Donald Trump said he and Indian Prime Minister Narendra Modi reached a trade agreement under which India would stop buying Russian oil and increase purchases from the United States, while Washington would cut tariffs on Indian goods from 25% to 18%. Trump also said India would move to eliminate tariffs and non-tariff barriers on U.S. products and would buy more than $500 billion in American goods, though key elements were not independently confirmed by the U.S. or Indian governments in the immediate aftermath.
President Donald Trump said Monday he spoke by phone with Indian Prime Minister Narendra Modi and that the two leaders reached a new trade arrangement that Trump framed as a step toward tightening pressure on Russia over its war in Ukraine.
In a post on Truth Social, Trump said Modi agreed to stop buying Russian oil and to buy more energy from the United States and “potentially” Venezuela. Trump wrote: “We spoke about many things, including Trade, and ending the War with Russia and Ukraine. He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!”
Trump said the deal would immediately reduce U.S. tariffs on Indian goods from 25% to 18%. In the same post, he said India would move to reduce its “Tariffs and Non Tariff Barriers” on U.S. products to zero, describing the change as reciprocal and made “out of friendship and respect” for Modi.
Trump also said Modi committed to purchasing more than $500 billion in American products, including energy, technology and agricultural goods. Outside analysts, however, have questioned whether such sweeping commitments are feasible or how quickly they could be implemented, noting that major details of the arrangement remained unclear and that neither government released a full text of any agreement.
Trump has repeatedly criticized India’s purchases of discounted Russian crude, arguing that the trade helps bolster Moscow’s revenue. In August, Trump wrote that India was buying “massive amounts” of Russian oil and reselling some of it for “big profits,” adding that he would raise tariffs in response.
India’s reliance on Russian crude has surged since Russia’s full-scale invasion of Ukraine in 2022, when Western restrictions reshaped global oil flows. Data widely cited in recent reporting has put Russia’s share of India’s crude supply at roughly one-third in 2025, with fluctuations month to month.
Trump’s announcement also referenced Venezuela. He said the United States would take over Venezuela’s oil industry and that American companies would invest billions to rebuild oil fields following Maduro’s capture in a U.S. operation announced in early January. The Trump administration’s longer-term plan for Venezuela’s governance and control of its energy sector has been a subject of international scrutiny and remains contested in public statements by U.S. officials and Venezuelan authorities.
