India-US Trade Deal: How Jaishankar, Goyal Forced US U-Turn on Tariffs
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News18•03-02-2026, 12:39
India-US Trade Deal: How Jaishankar, Goyal Forced US U-Turn on Tariffs
- •India and the US have resolved tariff disputes, with the US reducing duties on Indian goods to 18%.
- •External Affairs Minister S. Jaishankar and Commerce Minister Piyush Goyal led extensive negotiations, compelling the US to lower its initial 50% tariff.
- •The new 18% tariff on Indian goods is lower than those for Pakistan (19%) and China (34%), giving India a competitive edge.
- •The US had imposed a 25% reciprocal tariff and an additional 25% penalty for India's oil purchases from Russia, totaling 50%.
- •India's Free Trade Agreement with the European Union pressured the US to reconsider its tariffs, fearing loss of market access.
Why It Matters: India's diplomatic and trade efforts led by Jaishankar and Goyal secured a significant tariff reduction from the US.
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