India-US Trade Pact: How India’s 18% Tariff Compares with Global Rivals

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US President Donald Trump announced a trade agreement with India on Monday, reducing the tariff on Indian goods to 18% from 50%. The announcement came after a phone call with Prime Minister Narendra Modi and was shared on Trump’s social media platform, Truth Social. “Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. This will benefit our people and unlock opportunities for cooperation,” Prime Minister Narendra Modi posted on X (formerly twitter) yesterday. The deal marks a major shift in US?India trade ties. President Trump…