India-US Trade Deal: Tariffs Slashed to 18%, Experts Laud 'Historic Turning Point'
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Firstpost•03-02-2026, 01:35
India-US Trade Deal: Tariffs Slashed to 18%, Experts Laud 'Historic Turning Point'
- •US President Donald Trump announced a trade arrangement reducing reciprocal tariffs on Indian goods from 25% to 18% after a call with PM Narendra Modi.
- •PM Modi expressed delight, stating "Made in India products will now have a reduced tariff of 18 per cent."
- •Union Ministers S Jaishankar, Piyush Goyal, Ashwini Vaishnaw, and Amit Shah lauded the deal, highlighting job creation, economic growth, and strengthened bilateral ties.
- •USISPF called it an "important and positive first step" towards a comprehensive bilateral trade agreement.
- •Industry leaders like Ashish Chauhan (NSE) and EEPC India, along with foreign trade expert Robinder Sachdev, emphasized the deal's benefits for businesses, exports, and employment.
Why It Matters: India and the US struck a landmark trade deal, reducing tariffs to 18%, hailed by leaders as a boost for economy and ties.
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