India, U.S. announce framework for interim trade agreement

India and the United States have reached a framework for an interim agreement regarding reciprocal and mutually beneficial trade, a joint statement announced Saturday.

The U.S. side would apply a reciprocal tariff rate of 18 percent on originating goods of India, including textiles and apparel, leather and footwear, plastic and rubber, organic chemicals, home decor, artisanal products, and certain machinery, according to the joint statement, News.az reports, citing CNN.

The joint statement said that the two sides will promptly implement this framework and work towards finalizing the interim agreement. 

News.Az 

By Faig Mahmudov