India and US Agree on Interim Trade Deal to Lower Tariffs, Impacting Bilateral Trade
India and the United States have announced a framework for an interim trade agreement aimed at reducing tariffs on Indian goods. This development follows U.S. President Trump's decision to lower import tariffs on India, which were initially imposed to pressure New Delhi to reduce its reliance on Russian crude oil. The agreement, described as 'reciprocal and mutually beneficial,' will see tariffs on Indian goods reduced from 25% to 18%. In return, India has agreed to eliminate or reduce tariffs on U.S. industrial goods and a variety of food and agricultural products. The deal is part of a broader effort to enhance market access and strengthen supply chains between the two nations. Indian Prime Minister Narendra Modi expressed gratitude to President Trump for his commitment to strengthening bilateral ties, while Indian opposition parties criticized the agreement for potentially favoring U.S. interests over domestic sectors like agriculture. 
