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HomeMarket NewsIndia–US interim trade deal LIVE updates: Tariffs cut as new framework kicks in
India–US interim trade deal LIVE updates: India and the United States announce an interim trade pact lowering tariffs, ending extra US duties on Indian goods, and boosting prospects for a full Bilateral Trade Agreement.
India–US interim trade deal LIVE updates: India and the United States have unveiled a framework for an interim trade agreement aimed at lowering tariffs, reducing trade frictions, and reviving momentum toward a full Bilateral Trade Agreement (BTA). Under the pact, the US will cut duties on Indian goods to 18 per cent, down from the effective 50 per cent imposed last August over India’s purchases of Russian oil. President Donald Trump has now withdrawn the additional 25% tariff, effective February 7, after India committed to stop direct or indirect imports of Russian crude.
In return, India will reduce or remove tariffs on a range of US industrial and farm products and address long-standing non-tariff barriers in medical devices, ICT goods, and agriculture. Officials say the deal could eventually open up a $30 trillion US market for Indian exporters, especially MSMEs, farmers, and fishermen, while deepening cooperation in energy, aviation, and advanced technology.
Catch LIVE updates on US-India trade deal agreement here:
