February 7, 2026
US Unveils Interim Trade Framework With India, Drops Punitive Tariff
India agreed to buy $500 billion in U.S. energy, precious metal, coal, and other products as part of the agreement.
TL;DR
- Trump removed a 25 percent punitive tariff on Indian imports.
- The White House announced the interim agreement on Friday.
- The deal represents a historic milestone in the US-India partnership.
- India agreed to halt purchases of Russian oil.
- India will open markets to American goods.
- India was buying approximately one-third of its oil imports from Russia.
- India's purchases of Russian oil dropped in January due to Western sanctions.
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