- U.S.-India Trade Deal Announcement: On February 2, President Trump announced a new trade deal between the U.S. and India, which includes reducing U.S. tariffs on Indian goods from 25% to 18%, with India agreeing to lower tariffs and commit to purchasing over $500 billion in American products.
- Context of the Agreement: This trade deal marks a shift towards de-escalation after a period of heightened tariffs, particularly as U.S. duties on Indian goods reached 50% in 2025. The formal implementation of the agreement is pending publication of relevant notices in the Federal Register.
- Potential Economic Impact: The agreement aims to enhance trade relations and stimulate economic growth between the two nations by increasing market access and promoting American exports, while addressing previous tensions over issues such as India’s purchase of Russian oil.
Source EY
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