White House to slash tariffs on India to 18%FEW DETAILS: While deals with other Asian nations have included specific commitments to invest in US industries, the India announcement does notReuters, WASHINGTON and NEW DELHIUS President Donald Trump on Monday announced a trade deal with India that slashes US tariffs on Indian goods to 18 percent from 50 percent in exchange for India halting Russian oil purchases and lowering trade barriers. A White House official said that the US was rescinding a punitive 25 percent duty on all imports from India over its purchases of Russian oil that had stacked on top of a 25 percent “reciprocal” tariff rate. “They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO,” Trump said of India. As of late Monday afternoon, the White House had not issued a presidential proclamation nor a Federal Register notice required to make the changes official. The US Chamber of Commerce, which has long advocated a market-opening trade deal with India, called Trump’s announcement progress toward that goal.

Source: Taipei Times February 03, 2026 16:32 UTC