US-India Trade Accord: A New Era of Tariff Reductions

India and the US have struck a trade agreement aimed at lowering tariffs on Indian goods in the US from 25% to 18%. This move marks a commitment to eliminate tariffs and barriers, enhancing commerce between the two nations. The deal also facilitates increased Indian purchases of American goods.

In a historic move, India and the United States have reached a trade agreement that will see the US lower tariffs on Indian goods from 25% to 18%. US President Donald Trump announced the deal following a conversation with Indian Prime Minister Narendra Modi. The agreement promises to strengthen bilateral trade relations.

While the US commits to reducing tariffs, India has agreed to eliminate both tariffs and non-tariff barriers to American products, potentially moving towards zero charges. Additional commitments include India increasing its import of American energy, technology, and agricultural products.

President Trump praised Prime Minister Modi, noting that the trade pact is a testament to their strong working relationship. The deal significantly enhances the economic ties between the two nations and is expected to pave the way for future cooperation.

(With inputs from agencies.)