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For months, the relationship between the world's two biggest democracies, the US and India,
looked as if it might be on life support.
The US has slapped a crushing 50% tariff on some Indian goods.
An additional 25% tariff on top of that over India's imports of Russian energy supplies.
India's ambassador to Russia saying it will continue to buy oil wherever it gets the best deal.
Following President Trump's...
The two countries have been involved in intense trade talks for months
after the US hiked tariffs on Indian goods up to 50% last August.
Then on Monday, things took a drastic turn.
President Trump saying that those tariffs are going to be slashed
after Prime Minister Narendra Modi agreed to stop buying Russian oil.
President Trump and India's Prime Minister Modi announced the US would lower
the so-called reciprocal tariff rates on Indian imports to 18% from 25%.
In a statement posted to X, Modi thanked President Trump on behalf of the 1.4 billion people of India.
Trump echoed his sentiment on Truth Social, writing, "Prime Minister Modi and I are two people that get things done,
something that cannot be said for most."
"It did catch people by surprise, you know, at least from where we stand as reporters."
That's Bloomberg's Shruti Ranjan Singh, who covers India's economy and government from New Delhi.
As part of the deal, Trump says India will stop buying cheap Russian oil,