India-U.S. Trade Deal: A New Dawn in International Partnerships

India and the United States are close to finalizing a trade deal that will significantly lower U.S. tariffs on Indian imports, and may affect India's crude oil imports from Russia. The agreement discusses energy, agriculture, and may allow increased imports of U.S. corn and soymeal.

India and the United States are on the brink of finalizing a critical trade agreement that aims to slash U.S. tariffs on Indian imports to between 15% to 16%, down from 50%, as reported by India's Mint newspaper, who cited three informed sources.

The prospective deal, focused on energy and agriculture sectors, might see India gradually reducing its reliance on Russian crude oil. Despite the looming deal, both the Indian Ministry of Commerce and Industry and the White House have yet to comment on the matter.

Following a discussion with U.S. President Donald Trump, Indian Prime Minister Narendra Modi indicated that trade and energy were pivotal topics. Modi expressed gratitude for Trump's Diwali greetings and implied mutual goals of unity against terrorism. The agreement, which could enhance imports of U.S. corn and soymeal, might be announced at the upcoming ASEAN Summit.

(With inputs from agencies.)