President Trump on Monday said the United States reached a trade agreement with India after speaking with Prime Minister Narendra Modi. “It was an Honor to speak with Prime Minister Modi, of India, this morning. He is one of my greatest friends and, a Powerful and Respected Leader of his Country. 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 wrote on Truth Social. “Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%. They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO,” Trump continued. “The Prime Minister also committed to ‘BUY AMERICAN,’ at a much higher level, in addition to over $500 BILLION DOLLARS of U.S. Energy, Technology, Agricultural, Coal, and many other products. Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that GET THINGS DONE, something that cannot be said for most,” he added. "It was an Honor to speak with Prime Minister Modi, of India, this morning… 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" – President Donald J. Trump pic.twitter.com/RD7PZ8S16z — The White House (@WhiteHouse) February 2, 2026 CNBC has more: Trump’s announcement asserts the agreements struck on the call will take effect without delay, but the text of the deal has yet to materialize and it is unclear if anything has been signed. The White House and the Office of the U.S. Trade Representative did not immediately respond to CNBC’s requests for additional information. Legal experts and some Democratic lawmakers have questioned whether Trump can clinch any binding trade agreements without congressional approval, as he has done multiple times since retaking office. Trump and his supporters argue Congress has ceded authority to the executive branch to secure such deals. Lori Mullins, director of operations at Rogers & Brown Custom Brokers, told CNBC her industry has learned not to react prematurely to Trump’s public trade pronouncements. “It’s official once the Federal Register notice is posted with dates, times and applicable tariff codes,” Mullins said. Trade talks between the Trump and Modi administrations had stalled last year amid a number of sticking points, including New Delhi’s continued reliance on Russian oil. “Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement. When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation,” Modi said. “President Trump’s leadership is vital for global peace, stability, and prosperity. India fully supports his efforts for peace. I look forward to working closely with him to take our partnership to unprecedented heights,” he continued. Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement. When two large economies and the… — Narendra Modi (@narendramodi) February 2, 2026 POLITICO shared further: The new 18 percent reciprocal rate for India is also 1 percentage point better than the 19 percent that its neighbor and regional rival Pakistan got from Trump. The deal comes just days after India and the European Union inked a deal to widen European access to the Indian market for products including autos and alcohol. In exchange, Brussels has granted New Delhi concessions on pharmaceutical imports and greater participation in the EU services sector. Greer, in an interview last week with Larry Kudlow on Fox Business Network, said he believed India got the better end of its new trade deal with the EU. “Frankly, they get more market access into Europe,” Greer said. “It sounds like they have some additional immigration rights … So I think, on net, India is going to have a heyday with this. They have low-cost labor.” Greer chided the EU “for doubling down on globalization when we’re trying to fix some of the problems of globalization here in the U.S.” In the absence of more details about the U.S.-India agreement, it’s hard to say whether Washington or Brussels got the better agreement, a former U.S. trade negotiator said. “Until we see a text, even if initially that’s a joint statement or a fact sheet, it will be difficult to compare to the EU-India agreement,” Mark Linscott, who is now a senior adviser with the U.S. India Strategic Partnership Forum, said in an email. “However, if India committed to tariff cuts along the lines of what the EU agreed with the Trump administration last year, such as zero tariffs for industrial goods, then it could be even better.”