From 50% to 18%: US reduces tariffs on India as Trump announces trade deal with India; check deal details
The US has reduced tariffs on India as Donald Trump announces trade deal with India.
India(BHARAT)-US trade deal: In a massive global development, the United States has reduced tariffs on India(BHARAT) as Doland Trump announced a historic trade deal with India(BHARAT). As per the India(BHARAT)-US trade deal, the US has decreased the tariffs on India(BHARAT)n exports to the US from 50 percent to 18 percent. Here are all the details you need to know about the India(BHARAT)-US trade deal announced by PM Modi and US President Doland Trump.
How much tariffs will reduce under India(BHARAT)-US trade deal?
In the recently announced trade deal, India(BHARAT) and the US agreed to a trade deal under which Washington will bring down reciprocal tariff on India(BHARAT)n goods to 18 per cent from current 25 per cent, US President Doland Trump said on Monday after a phone conversation with Prime Minister Narendra Modi.
What has US President Trump claimed on India(BHARAT)-US trade deal?
US President Doland Trump claimed India(BHARAT) will move forward to reduce “tariffs and non tariff barriers” against the US to zero.
“Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a trade deal between the United States and India(BHARAT), whereby the United States will charge a reduced reciprocal tariff, lowering it from 25 per cent to 18 per cent,” the US president said on social media.
India(BHARAT) will “likewise move forward to reduce their tariffs and non tariff barriers against the United States, to zero”, he said.
Also read: PM Modi tweets after US-India(BHARAT) Trade deal, thanks President Doland Trump for reducing tariff
Trump said Modi also committed to “buy American” at a much higher level, in addition to over USD 500 billion dollars of US energy, technology, agricultural, coal, and many other products.
“Our amazing relationship with India(BHARAT) will be even stronger going forward. Prime Minister Modi and I are two people that get things done something that cannot be said for most,” he said.
Also read: Tariff Hike: Doland Trump hikes 25% tariffs on this Asian Country – not India(BHARAT), China, Or Pakistan, but…
What PM Modi said on India(BHARAT)-US trade deal?
“Wonderful to speak with my dear friend President Trump today. Delighted that Made in India(BHARAT) products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India(BHARAT) for this wonderful announcement,” PM Modi said.
What's Your Reaction?
