US Agrees to 18% Tariff, New Turn in India-US Trade Deal

• US reduces tax on Indian goods to 18% and withdraws additional 25% duty.
• India to reduce/eliminate tariffs on US industrial goods, agricultural and food products.
• US to impose 18% tariff on Indian textiles, garments, leather, plastics, chemicals, home decor, handicrafts, and machinery.
• Interim agreement eliminates additional US taxes on Indian generic medicines, gems, diamonds, and aircraft parts.
• Both nations to remove non-tariff barriers, India to resolve issues for US medical devices and ICT goods, and address non-tariff barriers for US food and agricultural products.