US-India interim trade deal extends tariff shield for Indian pharma, with riders

The United States and India have reached an interim trade agreement that significantly reduces tariffs and aims to enhance bilateral trade, particularly in pharmaceuticals and agriculture. The US will lower tariffs on Indian exports to 18%, while India will reciprocate by cutting import duties on a range of US goods, including industrial products and agricultural items. This agreement is seen as a precursor to a more comprehensive bilateral trade agreement.