US-India trade deal: Tariff on Indian goods drops to 18%
Big news: President Trump said the US and India had reached a trade deal that drops tariffs on Indian goods from 50% to 18% and removes the penalty tied to Russian oil imports.
President Trump said India would buy more than $500 billion in US energy, tech, agriculture, and coal.
Both sides say this move will boost "Made in India" products and strengthen their partnership.
Deal to help rupee hold stronger against dollar
With these lower tariffs, Indian exports—especially textiles, steel, and engineering—get a real edge over China, Pakistan, and other countries.
The deal is expected to help the rupee hold stronger against the dollar and improve market sentiment.
Finance Minister Nirmala Sitharaman tweeted, "Good news for #MadeInIndia products. They will now face reduced tariff of 18%," and thanked the leadership.