Hyderabad, Feb. 2 -- President Donald Trump on Monday, February 2, announced to lower reciprocal tariffs on Indian goods from 25 per cent to 18 per cent, following a phone call with Prime Minister Narendra Modi.

In a post on his social media platform Truth Social, Trump said the decision was taken "out of friendship and respect" for PM Modi and would take effect immediately. He added that India had agreed to reduce its tariffs and non-tariff barriers against the US to zero.

"Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25 per cent to 18...