After assuming power in the United States, Donald Trump began making major decisions on the economic front. The US President began imposing additional duties on goods imported from various countries based on reciprocal tariffs.
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India-US Trade Deal: Following the trade deal between India and the United States, both countries have pledged to work together on economic and strategic fronts. Now, the two countries have made the terms of the deal public. Significantly, dairy is not mentioned in it. This means that India has successfully excluded dairy from the trade deal. Furthermore, there are several other provisions that will benefit both countries. A framework for an interim agreement has been established. This structure reaffirms both countries’ commitment to the comprehensive US-India Bilateral Trade Agreement (BTA) negotiations launched by President Donald Trump and Prime Minister Narendra Modi on February 13, 2025, which will include additional market access and support for a more robust supply chain. This interim agreement between the US and India will be a historic milestone in the two countries’ partnership, reflecting a shared commitment to reciprocal and balanced trade based on mutual interests and concrete results.
Announcing this trade deal, Trump wrote on Truth Social that in exchange for an 18% tariff, India would stop importing oil from Russia, there would be zero tariffs on American goods in the Indian market, and India would buy US products worth $500 billion. Experts believe that after this deal, India’s labor-intensive export sectors like textiles, leather, jewellery, toys and furniture will get a boost in the US market. The 18% tariff rate is likely to benefit small and medium-sized companies, as it is lower than the 19% rate in rival Pakistan. Vietnam and Bangladesh are subject to 20% tariffs.
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The provisions of the interim agreement prepared by India and US are as follows -:
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