The White Home has hailed a brand new commerce settlement with India, saying the nation has dedicated to “not” buying Russian oil, with Prime Minister Narendra Modi additionally agreeing on investments of $500 billion throughout key American sectors.
These remarks had been made by White Home Press Secretary Karoline Leavitt on Tuesday (February 3, 2026).
“The President struck one other nice commerce take care of India. He spoke with Prime Minister Modi straight. They share an excellent relationship. India is dedicated to not solely not buying Russian oil, however shopping for oil from the USA, additionally maybe from Venezuela too, which we all know will now have a direct profit on the USA and the American folks,” Ms. Leavitt informed reporters Tuesday (February 3, 2026).
She additional stated that along with that, Prime Minister Modi “dedicated to $500 billion of investments into the USA, together with for transportation, for vitality and for agricultural merchandise as nicely. So that is one other nice commerce deal due to President Trump.”
Earlier, talking to Fox Information concerning the India-U.S. commerce deal, Ms. Leavitt stated the 2 leaders had a “nice name” on Monday (February 2, 2026), following which the bilateral commerce deal was introduced.
“…in terms of Prime Minister Modi, I do know he [Mr. Trump] significantly enjoys their relationship and has a deep respect for the Prime Minister and for his nation of India.
“They’d an excellent name. It was very productive yesterday, they usually struck a deal through which India has agreed to cease buying Russian oil to purchase extra American oil from the USA of America, and probably from Venezuela too,” she stated.
Ms. Leavitt added that Trump and his nationwide safety group are “now dictating” the commerce of Venezuela and people oil gross sales.
“So this straight advantages the American folks as nicely. And as well as, India has agreed to speculate extra in the USA due to President Trump’s name to motion on that cellphone name yesterday. Prime Minister Modi dedicated to USD 500 billion of purchases of US vitality, transportation, and agricultural merchandise,” she stated.
Ms. Leavitt stated the U.S. tariff on India will now be at 18%, however American exports to India will face a tariff of 0 per cent, so this can be a nice deal and an enormous win for American staff, companies and shoppers alike.”
The Trump administration had imposed 50% tariffs on India, together with 25% for Delhi’s purchases of Russian oil.
In a Fact Social publish on Monday (February 2, 2026), Mr. Trump had stated that, efficient instantly, the 2 sides agreed to a commerce deal underneath which the U.S. will decrease its reciprocal tariff imposed on India from 25% to 18%. India may also transfer ahead to scale back its tariffs and non-tariff limitations in opposition to the USA to “zero”.
“The Prime Minister additionally dedicated to ‘BUY AMERICAN’, at a a lot increased stage, along with over $500 BILLION DOLLARS of US Power, Expertise, Agricultural, Coal, and lots of different merchandise.
“Our superb relationship with India might be even stronger going ahead. Prime Minister Modi and I are two individuals who GET THINGS DONE, one thing that can not be stated for many,” Mr. Trump stated.
Mr. Modi stated it was fantastic to talk along with his “expensive good friend” Mr. Trump.
“Delighted that Made in India merchandise will now have a diminished tariff of 18 per cent. Massive due to President Trump on behalf of the 1.4 billion folks of India for this excellent announcement,” Mr. Modi stated.
“When two massive economies and the world’s largest democracies work collectively, it advantages our folks and unlocks immense alternatives for mutually useful cooperation. President Trump’s management is significant for international peace, stability, and prosperity. India absolutely helps his efforts for peace. I look ahead to working intently with him to take our partnership to unprecedented heights,” Mr. Modi stated.
Revealed – February 04, 2026 10:12 am IST
