India Engaged with US on Trade Deal Amid Tariff Changes: Rediff Moneynews
India Engaged with US on Trade Deal Amid Tariff Changes
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India is actively engaged with the US on a trade deal, navigating tariff changes, a US Supreme Court ruling, and new 10% tariffs under the US Trade Act 1974.
Photograph: Dado Ruvic/Illustration/File Photo/Reuters
New Delhi, July 21 (PTI) The government on Tuesday said it is engaged with the US on the trade deal.
India and the United States announced a trade deal on February 2, 2026, and a joint statement for the same was released on February 7 this year, Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha.
On February 7, 25 per cent additional tariffs imposed by the US on certain Indian exports citing India’s imports of Russian oil were removed.
Following a US Supreme Court judgement on February 20 invalidating sweeping tariffs imposed by the Trump administration, the reciprocal tariffs are no longer in force.
However, the US government has issued Executive Orders imposing 10 per cent tariffs on certain products from all countries under section 122 of the US Trade Act 1974 for 150 days from February 24.
“The Government is studying all the developments and remains engaged with the US Government,” he said.
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