Inglés (Indio) – Tariff-ic reset? US–India pact announced — what’s clear, what’s not

The United States and India have announced a major breakthrough in trade ties, with President Donald Trump and Prime Minister

The understanding, revealed through statements by both leaders, signals a reset in a relationship that had been strained by punitive duties, market-access disputes and geopolitical tensions linked to Russia’s war in Ukraine.

At the heart of the announcement is a sharp reduction in US tariffs on Indian goods, alongside Indian commitments to ease barriers for American exports and significantly expand purchases from the United States.

The development comes after months of difficult negotiations and follows a period in which Indian exports were hit by some of the highest US tariff rates applied to any country.

The deal is also tied to energy and strategic calculations. Trump linked the tariff move to India’s oil trade, saying Modi agreed to stop buying Russian oil and increase purchases from the US and potentially Venezuela.

While addressing a press briefing, Union commerce minister Piyush Goyal said that the “much-awaited trade deal” with the US has been successfully concluded.

The much-awaited trade deal with the United States of America has been successfully concluded. This is a significant trade agreement, finalised last night under the leadership of Prime Minister Narendra Modi, keeping the interests of the nation and its people in mind,” Goyal said.