File photograph of US President Donald Trump and Prime Minister Narendra Modi. |Photograph credit score: AP
The White Home on Friday (February 6, 2026) launched a joint assertion by the US and India on the framework for an interim commerce settlement between the 2 international locations, saying the 2 international locations affirmed their dedication to negotiations for a broader bilateral commerce settlement that President Donald Trump and Prime Minister Narendra Modi started on February 13, 2025.
“America and India will work in the direction of finalizing the interim settlement with the intention of shortly implementing this framework and concluding a mutually useful BTA in step with the roadmap agreed within the phrases of reference,” the joint assertion stated.
“India will eradicate or cut back tariffs on all U.S. industrial merchandise and a variety of U.S. meals and agricultural merchandise, together with dried distillers’ grains (DDG), feed-grade pink sorghum, tree nuts, contemporary and processed fruits, soybean oil, wine and spirits, and different merchandise,” the assertion stated.
“America and India are dedicated to offering one another with preferential market entry of their respective areas of curiosity on a sustained foundation,” the assertion stated.
The US will impose a reciprocal tariff of 18% on Indian merchandise, down from the earlier 25%. Individually, Trump stated India had dedicated to halting imports of Russian crude oil and shopping for extra U.S. power merchandise, and issued an govt order canceling a 25% tariff on India’s purchases of Russian crude oil. The order warns that tariffs will likely be re-imposed if India “resumes” oil imports from Russia.
“India has dedicated to droop direct or oblique imports of Russian Federation oil, dedicated to buying American power merchandise from the US, and just lately dedicated to a framework with the US to broaden protection cooperation over the following 10 years,” Trump stated within the govt order.
“If the Secretary of Commerce confirms that India has instantly or not directly resumed imports of Russian Federation oil, the Secretary of State shall notify the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Homeland Safety, the Workplace of the US Commerce Consultant, the Assistant to the President for Nationwide Safety Affairs, the Assistant to the President for Financial Coverage, and the Secretary of State for Commerce and Manufacturing. In session with the Assistant Secretary to the President and the Senior Advisor for Commerce and Manufacturing, it shall suggest whether or not and to what extent additional motion needs to be taken towards India: “Reimpose a further advert valorem tax of 25 % on imports of Indian items,” the order reads.
The joint assertion was issued on Thursday (February 5, 2026) amid remarks by Commerce Minister Piyush Goyal that India and the US will collectively signal a joint assertion on the commerce deal “inside the subsequent 4 to 5 days.” Exterior Affairs Minister Jaishankar additionally stated that particulars can be introduced “quickly”.
