US-India Framework: A Cautious Step Forward Amidst Trade Uncertainties

• US and India announce an 'Interim Agreement' framework, with India reducing tariffs on US industrial, food, and agricultural goods.
• India commits to purchasing $500 billion worth of US energy, aircraft, and technology products over five years.
• US to impose an 18% reciprocal tariff on Indian goods like textiles, leather, and artisanal products, a reduction from previous rates.
• The framework includes commitments for preferential market access, addressing non-tariff barriers, and strengthening supply chain resilience.
• US President's executive order links tariff relief for India to its commitment to stop importing Russian oil, with a warning of future action if violated.