India to eliminate or reduce tariffs on all US industrial goods and a wide range of US food and agricultural products, including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits, and additional products

In a significant recalibration of one of the world's most consequential economic relationships, the United States and India on Saturday announced a framework for an Interim Agreement on reciprocal and mutually beneficial trade

According to the statement, U.S will reduce tariffs on India to 18 percent

The two countries have also agreed to strengthen cooperation on standards and conformity assessment procedures to simplify compliance and allow adjustments to commitments if either side changes agreed tariffs.

The two governments said that further negotiations were needed to complete the pact. Read more at straitstimes.com. Read more at straitstimes.com.

Prime Minister Modis remarks came after India and the United States agreed on a framework for an Interim Trade Agreement. 

New Delhi: Union Finance Minister Nirmala Sitharaman on Saturday hailed the India-United States interim trade deal, expressing commitment to bilateral

India and the United States formally released an interim framework for a trade agreement, a major step toward a comprehensive bilateral pact