India commits $500 billion U.S. goods purchase over 5 years

The United States and India announced a framework for an Interim Agreement on reciprocal and mutually beneficial trade, reaffirming their commitment to the broader U.S.-India Bilateral Trade Agreement (BTA) negotiations.

United States and India

• Eliminate or reduce tariffs on U.S. industrial goods and food/agricultural products by India
• Apply 18% reciprocal tariff on Indian goods by the U.S.
• Remove tariffs on certain aircraft and aircraft parts of India
• India to purchase $500 billion of U.S. energy products, aircraft parts, precious metals, technology products, and coking coal over 5 years
• Address non-tariff barriers including for U.S. medical devices and ICT goods

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