India-US Trade Deal: A Significant Breakthrough in Tariff Reduction

India and the US have reached a crucial agreement to lower tariffs on Indian goods from 50% to 18%. This deal is vital given the US's high tariffs on Indian products starting August 2025. The agreement aims to boost trade relations and address the trade deficit issues.

In a landmark development, India and the United States have settled on a framework to drastically cut tariffs on Indian exports from the current 50% to 18%, a move expected to enhance bilateral trade.

This announcement comes against the backdrop of the US imposing heavy tariffs starting August 2025 due to past disagreements over trade practices, including India's purchase of Russian crude oil and military gear.

Key provisions of the deal will see India lowering some of its tariffs and removing barriers to American products, potentially leveling the playing field and fostering better economic ties between the two countries.

(With inputs from agencies.)