White House releases fact sheet on ‘historic’ US-India trade deal: Here are the key terms

Here are the key terms of US-India trade deal:

📌 India will eliminate or reduce tariffs on imports from the United States for all industrial products and a wide range of US food and agricultural products, including dried distillers’ grains (DDGs), red sorghum, tree nuts, fresh and processed fruit, certain pulses, soybean oil, wine and spirits, and additional products. India has mantained some of the highest tariffs on the United States, with tariffs as high as an average of 37 per cet for agricultural goods.

📌 India agreed to buy more goods from the United States, including energy, technology, farm products, coal, and other items, with purchases over $500 billion.

📌 India will address non-tariff barriers that affect bilateral trade in priority areas.

📌 Both countries will negotiate rules of origin that ensure that the agreed benefits accrue predominately to the United States and India.

📌 India will remove its taxes on digital services and work with the United States to create strong rules for digital trade that address discriminatory or burdensome practices and other barriers to digital trade, including rules that prohibit the imposition of customs duties on electronic transmissions.

📌 The United States and India will work more closely on economic security. This includes making supply chains stronger, supporting innovation, and coordinating actions to address non-market policies of third parties as well as cooperating on inbound and outbound investment reviews and export controls.

📌 Both countries will expand trade in technology products and expand joint technology cooperation.