Trump cuts India tariffs, says Modi will stop buying Russian oil

"Getting away from that awful 50 per cent number was very important, and I think they'll be breathing a very huge sigh of relief that they've brought it from 50 per cent to 18 (per cent), which is quite competitive in the current global landscape." The trade deal would significantly ease pressure on India’s economy, said Dhume, noting that recent strains between Washington and New Delhi had come as a shock. "The political pressure was really building up on Modi, and to (he) and his team's credit, they held their cool, and they seem to have negotiated a pretty good deal."