US slashes tariffs on Indian goods in trade breakthrough
India and the US released a joint statement and an executive order and moved closer to an interim trade deal that would slash US tariffs on Indian goods from 50% to 18%.
This move is set to boost Indian exports—think textiles, footwear, gems, and pharmaceuticals—with some products seeing zero duties by March 2026.
It's all about making trade smoother between the two countries.
India to buy $500 billion US goods over 5 years
India committed to purchasing $500 billion in US goods over five years, especially in energy and tech, though the joint statement framed this as an intent and the US said it would use its "best endeavor" to meet the obligation.
The deal protects sensitive Indian agriculture while opening up more market access.
Both countries are aiming for $500 billion in yearly trade by 2030, which could mean more opportunities and stronger ties ahead.