US, India to Exchange Official Documents on Trade Deal, Tariff Cut Soon

• The Central government is preparing official documentation for tariff changes announced by US President Donald Trump.
• The documentation will clarify Section 232 tariffs and duties on Indian goods.
• Both countries will soon exchange official documents detailing proposed tariff reductions.
• US President Donald Trump and PM Narendra Modi announced a trade deal on February 2.
• Tariffs on Indian goods are expected to drop from 50 percent to 18 percent as part of the deal.

Why It Matters: US and India are set to formalize a trade deal with significant tariff reductions on Indian goods.