US and India Announce Interim Trade Deal Framework
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Washington — This week the United States and India announced a framework for an interim trade agreement intended to expand reciprocal market access. On Feb. 10 the White House released a fact sheet saying India will eliminate or reduce tariffs on US industrial goods and a broad set of agricultural products, while the US removed an additional 25% tariff on certain Indian imports linked to India's pledge to reduce Russian oil purchases. The fact sheet was revised to remove a reference to "certain pulses." USTR described India as a potential supply-chain alternative to China. Based on 6 articles and research.
More context
Timeline
- 1. Bilateral leaders hold a call establishing a framework for an Interim Agreement.
- 2. White House publishes a joint statement calling the deal 'historic' (Feb. 10).
- 3. White House releases a fact sheet listing tariff reductions and a $500 billion purchase figure (Feb. 10).
- 4. USTR publicly describes India as a potential supply-chain alternative to China (Feb. 10).
- 5. White House revises the fact sheet, removing the reference to 'certain pulses' (Feb. 11).
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
