US Reciprocal Tariff on India Drops to 18% from 50%, Piyush Goyal Hails Deal

• US reciprocal tariffs on Indian goods reduced from 50% to 18%, making India more competitive than China, Vietnam.
• Many Indian goods, including agricultural products, pharmaceuticals, textiles, and gems, will now face zero duty in the US.
• Indian farmers' interests are fully protected, with no tariff concessions on sensitive agricultural categories like dairy, meat, and grains.
• India will gradually reduce tariffs on US goods in sectors with limited domestic supply, such as extra-long staple cotton and soybean oil.
• The interim trade agreement aims to boost bilateral trade to $500 billion, enhancing India's industrial and national security needs.