U.S. and India Near Major Trade Agreement With Tariff Reductions and Energy Policy Shifts
Reports suggest the U.S. may cut tariffs on Indian exports from 50% to 15%-16% as part of a new trade agreement. India is reportedly considering scaling back Russian oil purchases, a key U.S. demand, amid ongoing bilateral negotiations.
Potential Breakthrough in U.S.-India Trade Relations
According to recent reports from Indian media outlet Mint, the United States and India are nearing a significant trade agreement that could substantially reduce tariffs on Indian exports while addressing Washington’s concerns about New Delhi’s energy imports from Russia. Sources familiar with the negotiations indicate that both sides have made substantial progress after months of strained relations.
