Trump announces India trade deal lowering tariffs to 18% as equities bounce on Monday
President Trump and PM Modi agreed to lower US tariffs on Indian goods to 18% and increase US imports, boosting equities.Summary
President Donald Trump announced an immediate trade deal with India, reducing the US reciprocal tariff on Indian goods from 25% to 18%. Prime Minister Narendra Modi confirmed the agreement, pledging to increase US imports across energy, agriculture, and technology sectors. Crucially, Modi committed to halting purchases of Russian oil in favor of US and possibly Venezuelan energy sources. The deal is projected by Trump to unlock over $500 billion in future US exports. Investor sentiment reacted positively to the easing trade tensions, causing the S&P 500 to rise 0.7% toward record highs and the Nasdaq to climb nearly 0.8%. This return of risk appetite pressured safe-haven assets, with gold falling 4% and silver dropping over 7%.
(Source：Crypto Briefing)