India US Trade Deal LIVE Updates: Commerce minister Piyush Goyal to address media shortly
PM Modi and US President Donald Trump. (File)
India US Trade Deal News Today LIVE Updates: A day India and the US agreed on a trade deal and Washington slashed its punitive tariffs on New Delhi from 50% to 18%, Union Commerece Minister Piyush Goyal is set to address Parliament.
Impact on manufacturing sector: Revenue secretary Arvind Shrivastava said the development will expand and deepen trade between the two large economies and create more opportunities for export of the country’s labour-intensive and manufacturing sectors in the American market.
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What’s been agreed: Ending months of strained ties and taxing trade measures, US President Donald Trump announced that US was reducing reciprocal tariffs on India from 25% to 18%. A White House spokersperson later confirmed that the 25% additional import tax over India’s purchase of Russian crude oil was also dropped.
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