New Delhi, Feb. 3 -- US president Donald Trump on Monday said that he and Prime Minister Narendra Modi have agreed to a trade deal between India and the US, nearly a year after the two sides agreed to work towards a comprehensive bilateral trade agreement.

Under the deal, Washington would lower its reciprocal tariff on Indian goods from 25% to 18%, while India would reduce its tariffs and non-tariff barriers against the US to zero, Trump said. US is also removing the extra 25% duty on Indian goods applied in response to India's purchases of crude from Russia, Bloomberg reported, citing officials familiar with the matter.

In his social media post, Trump said he spoke to Modi earlier in the day and that the agreement was reached "effectiv...