The U.S. and India announced a framework for an interim trade deal in a joint statement Friday, an agreement the two nations said reaffirms their commitment to broader bilateral trade negotiations.

Congress MP Jairam Ramesh criticised the US-India Interim Trade Agreement, alleging it compromises India’s economic interests. He said preliminary information suggests India could face a 25 per cent tariff penalty if it continues purchasing Russian oil.

US Tariff Changes on Indian Imports On Friday, President Donald Trump announced the removal of a 25% punitive tariff on Indian imports linked to India's acquisition of Russian oil. This adjustment lowers the overall US tariff on Indian goods to 18%.

India and the United States have released a framework for an interim trade agreement to lower tariffs on Indian goods

President Donald Trump eliminated the extra 25% tariff he had imposed on Indian goods over the country’s purchases of Russian oil, the first step to cement the terms of a trade deal the two nations announced earlier this week.

US President Donald Trump has scrapped a punitive tariff on India that he had introduced to indirectly weaken Russia's oil trade. According to an executive order signed by Trump on Friday, a 25%

President Donald Trump has signed a landmark executive order removing the 25% penalty tariff on Indian goods, signaling a major shift in U.S.India trade relations and global geopolitical alignment. The move functions

President Donald Trump on Friday evening issued an executive order to make good on his promise to remove a 25 percent duty on Indian goods imposed over its purchase of Russian oil — part of a preliminary trade deal reached with the country earlier this week.