India-US Trade Deal Nears Formal Signing: Tariffs Cut, Documentation Expected Soon
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CNBC TV18•03-02-2026, 08:15
India-US Trade Deal Nears Formal Signing: Tariffs Cut, Documentation Expected Soon
- •India and the US have reached a breakthrough trade deal, with formal signing and detailed documentation anticipated within days.
- •US President Donald Trump announced a reciprocal tariff cut on Indian goods from 25% to 18% following a call with PM Narendra Modi.
- •White House sources indicate operational details, including tariff reduction mechanisms, will be finalized within a week.
- •The deal is described as a 'limited trade agreement' by former Commerce Secretary Anup Wadhawan, not a comprehensive free trade agreement.
- •Future discussions are expected to address India's ambitions in services, including H-1B visas and offshore businesses.
Why It Matters: India and the US are set to formalize a limited trade deal, reducing tariffs and paving the way for future talks.
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