US-India trade understanding: What does it mean for both sides
India and the US announced a trade understanding: US tariffs on Indian goods drop from 25% to 18%, and that extra penalty on India's Russian oil imports disappears—if India stops buying Russian oil.
Announced by President Trump on February 2, this marks a fresh chapter after months of tension.
India to buy $500 billion in US energy, tech, farm goods
US officials said India would slowly bring tariffs on US products down to zero, but promises to shield its agriculture and dairy sectors.
In exchange, US officials said India is set to buy over $500 billion in American energy, tech, farm goods, and coal.
While officials say this gives Indian exporters an edge over China and Pakistan, farmer groups and opposition leaders worry cheap US farm imports could hurt local farmers.
Commerce Minister Piyush Goyal insists sensitive sectors are protected—and says new opportunities for Indian exports are opening up.