US Lowers Tariffs to 10% for India, Other Trade Partners for 150 Days

• US President Donald Trump's proclamation reduces tariff rates to 10% for countries with trade agreements, including India.
• The revised 10% ad valorem tariff rate will be effective for a period of 150 days.
• Tariffs will adjust from 25% to 10% on affected goods, as the previously agreed 18% rate was not yet notified.
• The temporary duty takes effect from February 24 at 12:01 a.m. Eastern Standard Time.
• This is a "short-term win" for companies, with the administration working on longer-term statutory processes for future tariff adjustments.