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US Trade Deals
Moody's Ratings on Tuesday said the reduction of the US tariff rate on most Indian goods is credit positive for labour-intensive sectors such as gems, jewellery, textiles and apparel, which are the top export sectors. India and the US have agreed to a trade deal under which Washington will bring down reciprocal tariff on Indian goods to 18 per cent from current 25 per cent, US President Donald Trump said on Monday after a phone conversation with Prime Minister Narendra Modi. Moody's in a statement said the trade deal will reinvigorate India's goods export growth to the US, which remains the country's largest goods export market, accounting for about 21 per cent of India's total goods exports for the first 11 months of 2025. "Lower tariff rate will also be credit positive for labour-intensive sectors such as gems, jewellery, textiles and apparel, which rank the top export sectors," it said. However, pharmaceuticals and consumer electronics, the other two major export sectors, had be
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. "We expect that with tariffs coming down to 18 per cent, we should get back to the previous levels." The decline came after the US imposed 50 per cent tariffs on Indian goods in August 2025 - the highest for any Asian country - including a 25 per cent penalty linked to India's purchase of Russian oil. During the period of elevated tariffs, Indian exporters were fulfilling existing contracts, but ne
The India-US trade deal adds meaningful momentum to India's growth ambitions and supports the country's ambition to be a globally competitive manufacturing and innovation hub, industry leaders said on Tuesday. Reacting to the trade agreement between the two countries, Mahindra Group CEO & Managing Director Anish Shah welcomed the development, terming it as "a significant step forward in strengthening bilateral trade and investment ties." "With the Indian economy on a strong growth trajectory, this deal adds meaningful momentum to India's growth ambitions," he noted. Shah further said, "The immediate reduction in reciprocal tariffs on Indian exports to 18 per cent, along with the commitment to progressively lower tariff and non-tariff barriers, will boost growth momentum and improve the predictability businesses need to invest with confidence." Expressing similar views, Aditya Birla Group Chairman Kumar Mangalam Birla said the reduced tariffs will help strengthen the strategic and .
The Indian Rice Exporters Federation (IREF) on Tuesday expressed optimism over a proposed reduction in United States import tariffs on Indian goods to 18 per cent, down from the earlier 25 per cent. The federation expects this move to restore price parity with competing nations and significantly boost shipment volumes. According to IREF National President Prem Garg, the revised tariff structure would place India on a par with competitors like Thailand and Pakistan, which currently face duties of approximately 19 per cent. "The move to lower tariffs from the earlier 25 per cent to 18 per cent is a significant victory for price parity. This effectively neutralised the duty disadvantage we faced against competitors like Thailand and Pakistan. " Indian rice can now compete on a level playing field in one of our most high-value markets," exporter RiceVilla Group's CEO Suraj Agarwal said. The industry is also hopeful that a potential penalty related to India's purchase of Russian oil be
The Congress on Tuesday demanded that the Modi government should take Parliament into confidence and the text of both the EU and US trade deals must be laid on the table of both Houses and debated. Congress general secretary in-charge communications Jairam Ramesh said that from the information President Donald Trump has provided, it is abundantly clear that Prime Minister Narendra Modi has "completely surrendered". He said that almost exactly a year ago, Prime Minister Modi landed at the White House to greet President Trump on his re-election. "His trademark huglomacy was on full display. India-US relations never appeared brighter. Negotiations for a trade deal started immediately thereafter.But ever since President Trump made the first announcement of the halt to Operation Sindoor on the evening of May 10, 2025 things began to go downhill," Ramesh said on X. Subsequently, President Trump embraced Pakistan and Field Marshall Asim Munir enthusiastically, "exposing the hollowness of
The India-US trade deal can be a major catalyst for India's electronics, semiconductor, and technology ecosystem, Ashok Chandak, President of SEMI India and IESA said on Tuesday, adding it will accelerate semiconductor design and manufacturing, bolster value addition, and expand cooperation across AI and data centres space. The comment from the industry assumes significance as the US and India have reached a trade deal following months of negotiations. Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from the current 25 per cent, President Trump said in a social media post on Monday after a phone conversation with Prime Minister Narendra Modi. The prime minister said he was delighted that "Made in India products will now have a reduced tariff of 18 per cent". IESA's (India Electronics and Semiconductor Association) Chandak said, the India-US trade deal can be a major catalyst for India's electronics, semiconductor, and technology ecosystem. By improvi
Finance Minister Nirmala Sitharaman on Tuesday welcomed the reduction in United States' tariffs on Indian goods, describing the development as a major boost for the 'Made in India' initiative. Taking to social media platform X, the finance minister said that Indian products would now face a reduced reciprocal tariff of 18 per cent. "Good news for #MadeInIndia products. They will now face reduced tariff of 18%. Thanking the leadership of PM @narendramodi and @POTUS for this development. People of our two large democracies stand to benefit," she said in a post on X. The breakthrough follows a high-level telephonic conversation between Prime Minister Narendra Modi and US President Donald Trump. In a reciprocal move, India has committed to reducing trade barriers for American goods and significantly increasing imports across sectors, including energy, technology, and agriculture. Following the trade agreement announcement, Prime Minister Narendra Modi said he was delighted that "Made
Commerce and Industry Minister Piyush Goyal on Tuesday said the India-US trade agreement will open up huge opportunities for domestic farmers, MSMEs, entrepreneurs, and skilled workers and promote Make in India initiative. India and the US have agreed to a trade deal under which Washington will bring down reciprocal tariff on Indian goods to 18 per cent from current 25 per cent, US President Donald Trump said on Monday after a phone conversation with Prime Minister Narendra Modi. Goyal said it will help India get technology from the US. "This agreement unlocks unprecedented opportunities for farmers, MSMEs, entrepreneurs, and skilled workers to Make in India for the world, Design in India for the world, and Innovate in India for the world," Goyal said in a post on social media. He added that the development reflects the power of two like-minded, fair-trading democracies working together for shared prosperity. "Both India and US are natural allies and our partnership will co-create
The European Union is willing to implement a sweeping free trade agreement with the Mercosur group of South American countries on a provisional basis, the head of the EU's executive commission said Friday, despite a vote by the EU parliament to delay ratification for legal review. The EU would be ready to act as soon as at least one Mercosur country ratifies, European Commission President Ursula von der Leyen said at the conclusion of a summit of EU leaders in Brussels, where several national leaders raised the issue. "There is a clear interest that we ensure that the benefits of this agreement apply as soon as possible," von der Leyen said at a news conference. "In short, we will be ready when they are ready." No formal decision to implement the deal had been taken yet, she said. At the same news conference, Antonio Costa, head of the EU council of member governments, said the executive commission had the authority to move ahead on interim implementation. A decision to do that is
The United States and Taiwan reached a trade deal on Thursday that cuts tariffs on Taiwanese goods in exchange for USD 250 billion in new investments in the US tech industry. The deal is the latest President Donald Trump has struck such as those with the European Union and Japan since he unveiled a sweeping tariff plan last April to address trade imbalances. Trump also has a one-year trade truce with China to stabilise ties with the world's second largest economy. Trump initially set the tariff at 32 per cent on Taiwanese goods but later changed it to 20 per cent. The new agreement slashes the tariff rate to 15 per cent, the same as levied on other US trading partners in the Asia-Pacific region such as Japan and South Korea. In a statement, the US Department of Commerce said the deal with Taiwan would establish an economic partnership to create several world-class US-based industrial parks in order to help build up domestic production. The department described it as "a historic ..