The United States will cut tariffs on Indian goods to 18 percent under a new trade deal announced by President Donald Trump on Monday.

Trump said the agreement would reduce tariffs from 50 percent in exchange for India halting purchases of Russian oil and lowering trade barriers for US products. He made the announcement on social media after speaking with Indian Prime Minister Narendra Modi.

A White House official said Washington would withdraw a 25 percent duty imposed over India’s Russian oil imports. This duty had been added to an existing reciprocal tariff of 25 percent.

Trump said India had agreed to buy more energy from the United States, along with technology, agricultural, and other products. He said India would also reduce tariffs and non-tariff barriers on US goods.

Indian officials did not immediately comment. Russia’s embassy in Washington also offered no response.

Indian markets had struggled after higher US tariffs were imposed last year.