US to cut tariffs on Indian goods
India and the US just rolled out an interim trade framework after a call between PM Modi and President Trump.
The US is cutting tariffs on Indian goods from 25% to 18%, and says it will remove its reciprocal tariff on items including generic pharmaceuticals, gems and diamonds, and aircraft parts, subject to the successful conclusion of the Interim Agreement.
India will also lower or remove tariffs on a bunch of American products.
What does it mean for you?
This move could make everything from tech gear to snacks more affordable and boost jobs in both countries.
India's aiming for $500 billion in US purchases over five years—think energy, tech hardware, even GPUs for data centers.
Plus, both sides are promising to tackle tricky issues like digital trade rules and supply chain hiccups together.
It's a big step toward smoother business (and maybe cheaper gadgets) for everyone.