New Delhi, Feb. 7 -- India and the United States have finally signed an interim tariff agreement aimed at reducing trade barriers and strengthening bilateral economic cooperation, said Rajeev Juneja, President of PHDCCI in a communique released on Saturday.
The framework was agreed upon in ongoing negotiations to expand two-way trade and to lay the groundwork for a comprehensive Bilateral Trade Agreement (BTA).
"Under the terms of the interim agreement, the United States will apply a reciprocal tariff of 18 per cent on Indian origin goods, which include textiles, apparel, leather and footwear, plastics and rubber, organic chemicals, home decor, artisanal products and certain machinery" Juneja said.
The United States will also lift certai...