The US has agreed to reduce reciprocal tariffs on Indian goods to 18% from 25% as part of the larger trade deal which will see India buy $500 billion worth of American goods. The deal was announced by US President Donald Trump in a post on “Truth Social”. “Out of friendship and respect for Prime Minister (Narendra) Modi and as per his request, effective immediately, we agreed to a trade deal between US and India whereby US will charge a reduced reciprocal tariff, lowering it from 25% to 18%.”