Sitharaman on India-US Trade Deal: "It's a Tariff Reduction"
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Firstpost•03-02-2026, 19:50
Sitharaman on India-US Trade Deal: "It's a Tariff Reduction"
- •Union Finance Minister Nirmala Sitharaman confirmed the India-US trade deal involves a tariff reduction.
- •Sitharaman stated tariffs would decrease from 25% (and punitive 25%) to 18%, calling it "very good news."
- •US President Donald Trump announced the deal after a phone call with PM Narendra Modi, claiming India would reduce tariffs to zero and buy $500 billion in US goods.
- •Commerce Minister Piyush Goyal highlighted the deal protects sensitive sectors like dairy and agriculture, which were previously red lines.
- •Goyal also mentioned PM Modi leveraged personal ties with Trump to secure a favorable agreement, with a joint statement expected soon.
Why It Matters: India-US trade deal focuses on tariff reduction, protecting key Indian sectors, with details to follow.
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