White Home releases Joint Assertion on India-U.S. interim commerce deal

The White Home on ​Friday (February 6, 2026) launched a Joint Assertion by the U.S. and India on a framework for ‌an interim commerce settlement between the 2 international locations that they mentioned affirms their dedication to negotiations in the direction of a broader bilateral commerce deal launched by President Donald Trump and Prime Minister Narendra Modi on February 13, 2025

“America and India will promptly implement this framework and work in the direction of finalizing the Interim Settlement ​with a view to concluding a ⁠mutually useful BTA in keeping with the roadmap agreed within the Phrases of Reference,” the joint ⁠assertion mentioned.

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“India will remove or scale back tariffs on all U.S. industrial items and a variety of U.S. meals and agricultural merchandise, together with dried distillers’ grains (DDGs), pink sorghum for animal feed, tree nuts, recent and processed fruit, soybean oil, wine and spirits, and extra merchandise,” the assertion mentioned.

“America and India commit to offer one another preferential market entry in sectors of respective curiosity on a sustained foundation,” the assertion mentioned.

The U.S. will impose 18% reciprocal tariffs on Indian items, slashed from the earlier 25%. Mr. Trump individually issued an govt order rescinding 25% further tariffs for India’s buy of Russian oil as he mentioned India has dedicated to cease importing Russian oil and purchase extra U.S. power merchandise. The order warns the tariffs could be reimposed if India “resumes” Russian oil imports.

“India has dedicated to cease instantly or not directly importing Russian Federation oil, has represented that it’s going to buy United States power merchandise from america, and has lately dedicated to a framework with america to broaden protection cooperation over the following 10 years,” Mr. Trump mentioned in his order.

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“If the Secretary of Commerce finds that India has resumed instantly or not directly importing Russian Federation oil, the Secretary of State, in session with the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Homeland Safety, america Commerce Consultant, the Assistant to the President for Nationwide Safety Affairs, the Assistant to the President for Financial Coverage, and the Assistant to the President and Senior Counselor for Commerce and Manufacturing, shall suggest whether or not and to what extent I ought to take further motion as to India, together with whether or not I ought to reimpose the extra advert valorem charge of obligation of 25 % on imports of articles of India,” the order learn.

The joint assertion comes amid Union Commerce Minister Piyush Goyal’s remarks on Thursday (February 5, 2026) that India and the U.S. will finalise and signal a joint assertion relating to the commerce deal within the “subsequent 4 to five days”. Exterior Affairs Minister Jaishankar too had mentioned that the main points had been anticipated “quickly”.