Trade deal done, says Trump; PM Modi thanks him for cutting tariff to 18%

In a significant development, former U.S. President Donald Trump announced the completion of a pivotal trade deal, which includes a notable reduction in tariffs. The agreement, finalized after extensive negotiations, lowers tariffs on a range of goods to 18%, marking a substantial shift in trade policy. This move is expected to enhance economic ties between the two nations, fostering increased trade and investment opportunities. Indian Prime Minister Narendra Modi expressed his gratitude to Trump for this strategic reduction, highlighting the positive impact it will have on the Indian economy. The lowered tariffs are anticipated to benefit various sectors, including technology and agriculture, by making Indian exports more competitive in the global market. Modi's acknowledgment underscores the importance of this deal in strengthening bilateral relations. Experts suggest that this trade agreement could serve as a blueprint for future negotiations between India and other global economies. By addressing tariff barriers, both countries aim to create a more favorable environment for businesses and consumers alike. The deal is poised to boost economic growth, signaling a new era of cooperation and mutual benefit in international trade.

— Authored by Next24 Live