US EditionUS, India unveil interim trade framework, move closer to broad pact
The agreement includes India’s pledge to buy $500 billion in U.S. goods over five years and covers tariffs, standards, digital trade, and supply-chain resilience.
- President Donald Trump announced last week to reduce tariffs after revoking a 25% duty via an executive order on Friday, linked to an 18% reciprocal rate.
- Piyush Goyal outlined tariff changes and protections as India will reduce tariffs on U.S. industrial goods and food products and cut duties to zero on generic pharmaceuticals, gems, and aircraft parts, while protecting sensitive agricultural products.
- Goyal said the framework `will open a $30 trillion market for Indian exporters`, and India plans to purchase $500 billion of U.S. goods over five years, officials said.
- India's opposition parties criticised the interim pact as favouring the United States, while both countries said they will finalise the agreement promptly and continue full bilateral trade agreement negotiations.
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29 Articles
US tariff rollback, EU deal mark a reset in India's trade and foreign policy trajectory: Foreign Affairs Expert
Speaking to ANI, Sachdev said the US decision to reduce duties from a peak of 50% to 18% has removed a major irritant in bilateral ties, which had strained relations since April's Liberation Day announcement by US President Donald Trump. India had initially faced a 25% reciprocal tariff, followed by an additional 25% levy linked to its purchase of Russian crude.
An interim framework for a trade deal between India and the United States has been finalized. Commerce Minister Piyush Goyal shared details of this framework. Under this framework, India will reduce tariffs on animal feed, dried fruits, processed fruits, soybean oil, spirits, liquor, and other agricultural products.
India, US release framework for interim trade agreement to reduce Trump tariffs
NEW DELHI — India and the United States released a framework for an interim trade agreement to lower tariffs on Indian goods, which Indian opposition accused of favoring Washington. The joint statement, released Friday, came after U.S. President Donald Trump announced his plan last week to reduce import tariffs on the South Asian country, six months after imposing steep taxes to press New Delhi to cut its reliance on cheap Russian crude. Under t…
Associated Press News
India and the US move closer to reducing Trump tariffs
India and the United States have released a framework for an interim trade agreement to lower tariffs on Indian goods. The joint statement, released Friday, follows U.S.
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