US-India Forge Interim Trade Framework Aimed at Broader Bilateral Deal

The United States and India announced a framework for an Interim Agreement to advance a broader Bilateral Trade Agreement, including India’s elimination or reduction of tariffs on U.S. industrial goods and many agricultural products, a reciprocal 18% tariff on certain Indian-origin goods in the U.S., and potential tariff removals on aircraft and other items; the deal covers rules of origin, non-tariff barriers, and supply‑chain security, with India committing to roughly $500 billion in U.S. purchases over five years and a pathway to finalize the BTA, while negotiations may yield targeted outcomes on generic pharmaceuticals contingent on a Section 232 review.