India’s Modi hails ‘great news’ after US slashes tariffs as part of new trade deal

Indian Prime Minister Narendra Modi on Saturday hailed an interim trade agreement with the United States, saying it would bolster global growth and deepen economic ties between the two countries. The pact cuts US “reciprocal” duties on Indian products to 18 per cent from 25 per cent, and commits India to large purchases of US energy and industrial goods. US President Donald Trump, while announcing the deal Tuesday, had said Modi promised to stop buying Russian oil over the war in Ukraine. The...