India-US Trade Deal: Tariffs Slashed to 18%, Double Good News for India
National International
N
News18•03-02-2026, 07:48
India-US Trade Deal: Tariffs Slashed to 18%, Double Good News for India
- •The US has reduced tariffs on 'Made in India' products from 25% to 18%, providing a significant boost to India's global export competitiveness.
- •This decision follows crucial phone discussions between US President Donald Trump and Prime Minister Narendra Modi.
- •The US also completely removed an additional 25% tariff previously imposed due to India's crude oil purchases from Russia, after India agreed to cease these purchases.
- •India now faces a lower tariff (18%) compared to major Asian rivals like China (34%), Vietnam (20%), and Pakistan (19%), enhancing its market position.
- •PM Modi expressed joy over the decision, while Trump highlighted India's agreement to purchase over $500 billion worth of US goods and discussed the Russia-Ukraine war.
Why It Matters: India receives a major trade boost as the US slashes tariffs to 18% and removes additional duties.
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