India's Tariffs Cut to 18% After Russian Oil Deal
US President Donald Trump said he would cut import tariffs on India to 18% after New Delhi agreed to halt oil purchases from Russia. This statement was reported by Bloomberg on Monday (February 2, 2026).
According to reports, the tariffs were reduced from 25% to 18% after Trump's communication with Indian Prime Minister Narendra Modi. Several US media reports also linked this agreement to Trump's efforts to reduce Russian oil revenues amid the Ukraine war.
Trump added that India would also "go further" to reduce tariffs and non-tariff barriers on US products to zero, and pledged to purchase more than US$500 billion in US products—ranging from energy and technology to agriculture and coal. However, the technical details of the agreement (official documents, timeline, and scope of goods) have not been fully disclosed.
In context, Trump had indeed pressured India to reduce its dependence on Russian oil, which has often been sold at a discount since Western sanctions were imposed. Therefore, the promise to purchase Russian oil was positioned as a "condition" for tariff relief and easing US-India trade tensions.
Going forward, the market will expect more formal confirmation—for example, awaiting statements from the White House and the Indian government—including whether the 18% tariff will take effect immediately, which commodities will be imported, and how the US$500 billion purchase pledge will be implemented. If the details are released, the impact could be felt on India's export sector, US energy, and global trade flows. (asd)
Source: Newsmaker.id
