On Monday, Feb. 2, President Trump announced on Truth Social that the IEEPA reciprocal tariff will be lowered from 25% to 18%. President Trump also announced that India would stop buying oil from Russia, although there was no mention of the IEEPA Russian oil tariff of 25% being reduced.
Text of the Truth Social Post:
“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!”
CBP Operational Despite Partial Government Shutdown
CBP has advised that, despite the lapse in appropriations as of Jan. 30, 2026, import and export operations will continue normally. Most CBP personnel are designated as excepted, meaning cargo processing, exams, release, liquidation, protests, drawback and ACE system functionality will remain fully operational. While some nontrade activities, such as external engagements or travel, may be limited, importers should not expect disruptions to cargo clearance or tariff implementation during this period.
