US-India Trade Deal: Limited Farm Access, Aircraft, Arms, Energy Purchases Confirmed

• India will grant limited market access for US agricultural products while maintaining key farm protections.
• The deal reduces India's tariffs on American industrial goods to zero and eliminates duties on US tree nuts, fruits, vegetables, wine, and spirits.
• In return, the US will reduce tariffs on Indian goods to 18% from 50%, a rate slightly below other Asian competitors.
• India commits to multi-year purchases of $500 billion in US petroleum, aircraft, defense, telecom goods, and pharmaceuticals.
• India will halt Russian oil purchases, aided by eased US sanctions on Venezuelan oil, in exchange for lower US tariffs and elimination of a 25% punitive duty.

Why It Matters: A US-India trade deal emerges, balancing limited agricultural access with significant US goods purchases and tariff reductions.