India Secures Lowest US Tariffs Among EMs at 18% After Trade Truce

• India's import tariffs to the US have been reduced to 18%, making them the lowest among major emerging markets.
• This decision follows nearly six months of negotiations and a previous 50% tariff, which included a penalty for Russian oil purchases.
• The new 18% tariff is contingent on India continuing to reduce its reliance on Russian oil, as stated by US ambassador to South Asia, Sergio Gor.
• The agreement's full details, including India's stance on US demands for market access in agriculture and dairy, are yet to be clarified.
• The announcement was made by President Donald Trump, while the Indian Prime Minister's celebratory post omitted sectoral specifics.

Why It Matters: India now faces the lowest US tariffs among emerging markets at 18% following a trade agreement.