New Delhi, Feb. 2 -- A long-awaited deal between India and the United States has finally seen the light of day. US President Donald Trump, on February 2, announced that Washington and New Delhi had reached a trade agreement following a conversation with Prime Minister Narendra Modi.

Trump announced a reduction in reciprocal tariffs, lowering them from 25% to 18%, and expanded economic cooperation between the two countries.

"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," Trump wrote.

A trade deal between India an...