India-US Trade Deal: Lowest Tariffs in Asia, Game-Changer for Market!
Business
M
Moneycontrol•03-02-2026, 15:23
India-US Trade Deal: Lowest Tariffs in Asia, Game-Changer for Market!
- •India previously faced high tariffs of 50%, including a 25% tariff and an additional 25% punitive levy due to Russian oil purchases.
- •Prime Minister Modi agreed to buy oil from America and Venezuela instead of Russia after talks with President Trump.
- •In response, the US removed the punitive duty and reduced the effective tariff from 25% to 18%.
- •This tariff reduction makes India's tariffs the lowest in Asia.
- •The positive impact was immediately seen in the stock market, which opened with a surge today.
Why It Matters: India-US trade deal reduces tariffs to Asia's lowest, boosting market confidence.
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