India will eliminate tariffs on a wide range of American industrial and agricultural products, including fruits and vegetables, as part of a trade deal
announced by U.S. officials. This agreement aims to enhance economic cooperation between the two nations. External Affairs Minister S. Jaishankar engaged in discussions with U.S. Treasury Secretary Scott Bessent to advance bilateral economic partnerships. The talks also highlighted ongoing collaborations in critical minerals and energy sectors.
Trade Deal Details
The U.S. Trade Representative confirmed that India will lower tariffs on numerous American goods to zero percent, marking a significant step in the trade relationship between the two countries. This initiative is expected to benefit various sectors and strengthen economic ties.
Bilateral Discussions
During a meeting in Washington D.C., Jaishankar and U.S. Secretary of State Marco Rubio expressed their support for the newly reached trade agreement. They also discussed formalizing cooperation on critical minerals exploration and mining, which are essential for both nations' energy strategies.
Pakistan-Kazakhstan Trade Agreement
In a separate development, Pakistan and Kazakhstan signed 37 memorandums of understanding (MoUs) aimed at increasing bilateral trade to USD 1 billion over the next year. This agreement was finalized during Kazakhstan President Kassym-Jomart Tokayev’s two-day visit to Pakistan.
China-Russia Relations
Russian President Vladimir Putin and Chinese leader Xi Jinping reinforced their nations' ties in a recent video call. Putin emphasized the growing economic cooperation between Russia and China, reflecting a strategic partnership that has implications for global trade dynamics.
