The United States and India implement the announced framework and take substantive steps toward finalizing the Interim Agreement (e.g., formalizing text or initiating final negotiation rounds).
Source summary
The United States and
India announced a framework for a trade agreement in a Joint Statement after a call between President Trump and Prime Minister Narendra Modi. The
U.S. removed an additional 25% tariff on
Indian imports by Executive Order and lowered the Reciprocal Tariff on India from 25% to 18%. India committed to reduce or eliminate tariffs on many U.S. industrial and agricultural goods, remove its digital services tax, and to purchase over $500 billion in U.S. products, while both countries agreed to negotiate rules of origin, address non-tariff barriers, and cooperate on economic security measures and export controls.