The move was taken after several negotiations and tariff disputes, stated report. Donald Trump and PM Modi- File image

India and the United States are close to finalizing a major trade agreement that would dramatically lower U.S. tariffs on Indian imports from the current 50% down to approximately 15–16%, according to media reports and unnamed officials familiar with the ongoing talks. This deal, expected to be formally announced at the ASEAN Summit later this month, anchors itself in the energy and agriculture sectors and could be the most significant breakthrough in India-U.S. trade relations in years.

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