US Has Cut India Tariffs To 18% From 50%, Envoy Sergio Gor Says

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United States and India have reached a landmark trade deal after months of negotiations, with the Donald Trump administration cutting down tariffs on Indian imports from 50% to 18%, envoy Sergio Gor confirmed in an exclusive conversation with CNN-News18.

“All the credit goes to President Trump and PM Modi. The two leaders have a great personal relationship, which has carried the deal forward. The number that will be finalised will be 18%,” Gor said.

Calling the announcement an “incredible news”, Gor said this is a “new era” and asserted that the US is open to business.

Trump, earlier today, announced that the trade deal with India, cutting down tariffs to 25%.