Prime Minister Narendra Modi on Saturday (February 7, 2026) spoke about the new India–U.S. joint statement, which announces a framework for an interim trade agreement between the two countries.
Under this proposed agreement, tariffs on Indian goods entering the United States will be reduced to 18%. The move is expected to make Indian exports more competitive and help improve trade between the two nations.
At the same time, India will also reduce or remove tariffs on many American products. These include all U.S. industrial goods and several food and agricultural items.
The products likely to get easier access to the Indian market include animal feed such as dried distillers’ grains and red sorghum, tree nuts, fresh and processed fruits, soybean oil, wine and spirits, along with other goods.
The agreement aims to increase trade, strengthen economic ties, and create more business opportunities for both countries. Officials say the step is part of broader efforts to improve cooperation between India and the United States.
However, the details of how the tariff cuts will affect local industries and farmers are still being discussed.