Indian rupee records biggest one-day gain in seven years after Trump trade deal
Stocks also rise in first trading session as US pledges to lower country’s tariffs to 18% following oil agreement
Stocks also rise in first trading session as US pledges to lower country’s tariffs to 18% following oil agreement

Conclusion of long-discussed pact to open markets was spurred by Donald Trump’s tariff offensive

New trade deals, high-tech services and potential reforms would outweigh the US president’s duties

Levies will drop from 50% to 18% as US president claims New Delhi will buy more than $500bn of American goods

Additional levies over Russian oil purchases raise rates on New Delhi to among the highest in the world

US president lashes out at New Delhi’s trade policies and economic ties with Russia but signals deal is possible

New Delhi describes threat as ‘unjustified and unreasonable’