Shafaqna India: India and the US have reached a new trade deal under which US tariffs on Indian goods would be reduced from 50 per cent to 18 per cent. The agreement includes the withdrawal of a punitive duty imposed over India’s purchases of Russian oil, in exchange for New Delhi halting such imports and lowering trade barriers. Prime Minister Narendra Modi welcomed the move, saying it would boost “Made in India” exports and strengthen bilateral ties. The reduced tariff gives India a competitive advantage over regional rivals such as China, Pakistan and Bangladesh, though the rate remains slightly higher than those offered to US allies like the EU, Japan and South Korea. Key details, including the implementation timeline and formal notification, are yet to be announced.
EAM S Jaishankar to meet Secretary of State Rubio in Washington ahead of critical minerals ministerial
February 3, 2026 11:20 am
External Affairs Minister S Jaishankar will meet US Secretary of State Marco Rubio in Washington on Tuesday ahead of an inaugural ministerial on critical minerals, the meeting coming as President Donald Trump announced a trade deal with India. Rubio will meet Jaishankar at the Department of State on Tuesday afternoon. Jaishankar is on a visit to the United States from February 2-4 and will participate in the Critical Minerals Ministerial convened by Rubio on Wednesday. During the visit, Jaishankar will also hold meetings with senior members of the US administration, the Ministry of External Affairs had said. The meeting between Jaishankar and Rubio will come just a day after US President Donald Trump announced on Truth Social that India and the US agreed to a trade deal under which Washington will bring down the reciprocal tariff on Delhi from 25 per cent to 18 per cent.
India’s seafood exports to the United States are expected to recover, following months of declining shipments, after Washington agreed to cut tariffs to 18 per cent from 25 per cent, the Seafood Exporters Association of India (SEAI) said on Tuesday. Fish exports to the US fell 15 per cent by volume to 201,501 tonnes in the April-November period of the current fiscal year, while value declined 6.3 per cent to USD 1.72 billion from USD 1.84 billion a year earlier, SEAI General Secretary K N Raghavan said. “The field has become level again, exports should get the boost,” Raghavan told PTI.