President Trump announced in another post on Truth Social that, following talks with Indian Prime Minister Narendra Modi, the U.S. will reduce its reciprocal tariff on Indian goods from 25% to 18%. This was in response to India agreeing to stop purchasing Russian oil.
Please keep in mind that there is no formal ruling on this at this time. While we are hopeful that the pronouncement turns factual and does so quickly, at this time this is just a social media post and follows several recent social media posts about trade, as well as an announcement from the Department of Commerce and even an Executive Order that still have not been formally implemented.
We will keep you updated as more information becomes available