India, US finalise interim trade pact
India and the US have finally wrapped up an interim trade agreement after months of back-and-forth.
The deal, led by PM Modi and President Trump, is all about finding middle ground—giving both countries some wins while keeping bigger interests in check.
India agreed to open up its agricultural market a bit (but drew a line at genetically modified crops), and tariffs on Indian goods heading to the US are now mostly set at 10-11.5%.
Deal mostly sets tariffs at 10-11.5% range
US exports to India will face an average 7% tariff, with special rules for certain sectors: dairy stays protected in India, only processed foods get easier access, and car trade just got simpler with unified tariffs.
This isn't just about today—officials say it's a step toward even bigger deals down the road, possibly paving the way for a full-blown Free Trade Agreement between the two countries.