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After the trade deal
Business Standard
|February 09, 2026
Exporters will benefit if New Delhi stays active
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The India-United States (US) joint statement, which unveiled a framework for an interim trade agreement, might be the signal for a significant thaw in ties between the two nations.
How swiftly it results in implementation is not certain, but it is hoped that some relief for exporters, battered by the cumulative 50 per cent tariffs imposed by US President Donald Trump some months ago, will arrive in a timely fashion. While the 25 per cent surcharge, slapped on India for buying Russian oil, was not specifically mentioned in the statement, it is widely assumed that this will be removed; Mr Trump, in his original post on the subject, claimed that India had “agreed to stop buying Russian oil, and to buy much more from the US and, potentially, Venezuela”. The remaining 25 per cent will now be reduced to 18 per cent, which is competitive visa-vis many of India’s Asian peers.
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