The Trump administration has described the India-US trade deal as historic. The White House says that this deal has opened the Indian market to American products.
The White House also issued a statement outlining the specific terms of the deal, under which the US has agreed to reduce the reciprocal tariff on India from 25% to 18%.
What did India agree to?
This statement clarified several aspects of the deal, especially President Trump's claim that India has agreed to reduce tariff and non-tariff barriers against the US to zero.
It also stated that Trump has agreed to remove an additional 25% tariff on Indian imports, honoring New Delhi's promise to stop purchasing Russian oil.
What did India remove tariffs on?
The White House stated that India has agreed to eliminate or reduce tariffs on all US industrial goods and a variety of US food and agricultural products, including dried distillers' grains (DDGs), red sorghum, tree nuts, fresh and processed fruits, some pulses, soybean oil, wine and spirits, and other products.
The statement also stated that India has pledged to purchase more US products and to purchase more than $500 billion worth of energy, information and communication technology, agricultural coal, and other US products.
What was agreed upon?
The statement emphasized that New Delhi has also agreed to remove non-tariff barriers impacting bilateral trade in priority sectors.
In addition, India will also remove its digital services tax and has pledged to negotiate stronger bilateral digital trade rules, including rules prohibiting the imposition of customs duties on electronic transmissions.
The statement also said that the US and India have agreed to negotiate rules of origin to ensure that the agreed benefits accrue most effectively to the US and India.
The White House said that the US and India will significantly expand mutual trade in technology products and enhance shared technology cooperation.
Gold-Silver Price: Silver prices jump by Rs 10,400, gold reaches Rs 1.67 lakh, know today's update
Amid rising tensions in West Asia, there has been a sharp surge in safe-haven demand. Gold and si
Ministry of External Affairs spokesperson Randhir Jaiswal stated on Thursday that Bangladesh, Sri
Just ahead of the upcoming assembly elections in Bengal, the Mamata Banerjee government is set to
Rajpal Yadav is on interim bail in a ₹9 crore loan case. In a recent interview, the actor urged
In 2023, a film made headlines everywhere: "The Kerala Story." "Kerala Story 2" is coming soon. T
Following the success of Dhurandhar, audiences are eagerly awaiting Dhurandhar 2. This excitement
Whenever the Indian and Pakistani cricket teams face each other on the field, the excitement leve
India defeated the West Indies to advance to the semi-finals of the T20 World Cup. The defending
The T20 World Cup 2026 is currently being held in India and Sri Lanka, with a total of six matche
The thrill of the Super Eight stage of the T20 World Cup will begin on Saturday with the first ma
