U.S. President Donald Trump Monday said he had agreed on a trade deal with India, and that India also agreed to stop buying Russian oil and buy more from the United States and potentially Venezuela.

“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% to 18%,” Trump said on Truth Social  following a call with Indian Prime Minister Narendra Modi.

Modi also committed to buy more than $500 billion worth of U.S. energy, technology, agricultural and other products, Trump added.

President Trump's full post on his conversation with India Prime Minister Modi reads as follows:

"It was an Honor to speak with Prime Minister Modi, of India, this morning. He is one of my greatest friends and, a Powerful and Respected Leader of his Country. We spoke about many things, including Trade, and ending the War with Russia and Ukraine.

"He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!

"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% to 18%.

"They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO.

"The Prime Minister also committed to “BUY AMERICAN,” at a much higher level, in addition to over $500 BILLION DOLLARS of U.S. Energy, Technology, Agricultural, Coal, and many other products.

"Our amazing relationship with India will be even stronger going forward. Prime Minister Modi and I are two people that GET THINGS DONE, something that cannot be said for most. Thank you for your attention to this matter!"