Tariffs cut as new framework kicks in

India–US interim trade deal LIVE updates: India and the United States announce an interim trade pact lowering tariffs, ending extra US duties on Indian goods, and boosting prospects for a full Bilateral Trade Agreement.India–US interim trade deal LIVE updates: India and the United States have unveiled a framework for an interim trade agreement aimed at lowering tariffs, reducing trade frictions, and reviving momentum toward a full Bilateral Trade Agreement (BTA). Under the pact, the US will cut duties on Indian goods to 18%, down from the effective 50% imposed last August over India’s purchases of Russian oil. President Donald Trump has now withdrawn the additional 25% tariff, effective February 7, after India committed to stop direct or indirect imports of Russian crude.In return, India will reduce or remove tariffs on a range of US industrial and farm products and address long-standing non-tariff barriers in medical devices, ICT goods, and agriculture. Officials say the deal could eventually open up a $30 trillion US market for Indian exporters, especially MSMEs, farmers, and fishermen, while deepening cooperation in energy, aviation, and advanced technology.Catch LIVE updates on US-India trade deal agreement here:

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