India and the United States have released a framework for an interim trade agreement to lower tariffs on Indian goods. The joint statement, released Friday, follows U.S. President Donald Trump's announcement to reduce import tariffs on India. This comes six months after imposing taxes to press New Delhi to cut its reliance on Russian crude. Under the deal, tariffs on Indian goods would drop to 18% from 25%. India would also reduce tariffs on U.S. goods. The agreement aims to support resilient supply chains. However, Indian opposition parties argue it favors the U.S. and impacts sensitive sectors like agriculture.
