India-United States Interim Trade Deal

India and the United States have reached a framework for an interim trade agreement, significantly reducing tariffs and addressing non-tariff barriers to boost bilateral trade. Under the agreement, the United States will cut import duties on Indian goods from 50% to 18%, covering sectors like textiles, apparel, leather, and certain machinery. India, in turn, will eliminate or reduce tariffs on a wide range of US industrial goods and agricultural products, including dried distillers' grains, tree nuts, and wine. The agreement also includes India's commitment to purchase $500 billion worth of US energy products, aircraft, technology products, and coking coal over the next five years. US President Donald Trump has removed additional 25% tariffs previously imposed on India due to its purchase of Russian oil, with India committing to cease such imports. Both nations aim to finalize this interim agreement and work towards a broader Bilateral Trade Agreement, enhancing supply chain resilience and technology cooperation.