India and US to Sign Trade Deal Reducing Tariffs, Opening New Phase in Ties

India and the US are set to sign the first tranche of a bilateral trade agreement by mid-March, following a joint statement expected within 4-5 days. The deal will reduce US tariffs on Indian goods from 50% to 18% via a US executive order, while India will lower tariffs on select American products after the formal legal agreement. India plans to increase imports of US energy, aircraft, and technology worth $500 billion over five years. Both sides emphasize protection of sensitive sectors like Indian agriculture and dairy. External Affairs Minister S. Jaishankar described the deal as historic, opening a new phase in bilateral ties and advancing cooperation on critical minerals and strategic issues.