The U.S. and India announced a trade deal Monday after months of negotiations, raising hopes for a strategic reset after ties had plummeted to their lowest point in decades.
But the lack of detail and a clear timeline has fueled doubts over how quickly the framework can be turned into a binding agreement and whether the two nations can move beyond tensions from last year.
President Donald Trump said the U.S. would lower reciprocal tariffs on India to 18% from 25% after Prime Minister Narendra Modi agreed to stop buying Russian oil. Washington would also reportedly waive an additional 25% tariffs slapped on New Delhi for its oil purchases.
India would, in turn, reduce its tariffs and non-tariff barriers on U.S. goods to zero while pledging to buy $500 billion of U.S. products, Trump said, without giving further details on the timeline or sector commitments.
Modi confirmed the new 18% tariff rate in a post on X, calling the agreement a step towards restoring stability and momentum in bilateral ties.
