U.S.-India Trade Deal Could Slash Tariffs, Impacting Export Economy
India and the United States are nearing a landmark trade agreement that WOULD reduce U.S. tariffs on Indian imports from roughly 50% to 15%–16%. The deal, expected to be finalized at the upcoming ASEAN Summit, marks a significant shift in bilateral trade relations after years of tension.
Key sectors include energy, agriculture, and manufactured goods. India has reportedly agreed to gradually curb Russian crude oil purchases in exchange for improved market access for textiles, chemicals, and automotive components. The U.S. gains entry for agricultural exports like non-GMO corn and soymeal—a longstanding point of contention.
The agreement could revitalize India's export engine while signaling a thaw in trade disputes dating back to the TRUMP administration's protectionist policies. Market watchers view this as a strategic realignment amid shifting global supply chains.
