President Trump and Prime Minister Modi are indicating that the US-India trade deal, which reduces tariffs on Indian goods to 18 per cent from 50 per cent, will be signed soon. Around a third of India’s exports to the US were already outside the scope of tariffs, such as electronics, pharmaceuticals, and mineral oils. Nine per cent of India’s exports are still subject to Section 232 tariffs in the US, including metals and auto finished & parts. The remaining, close to 60 per cent, of export commodities, erstwhile under the 50 per cent tariff coverage, will now be subject to an 18 per cent tariff.

Published on February 3, 2026