India has achieved a historic milestone in its trade relations with the United States by signing an interim trade agreement that opens preferential access to a US$30 trillion market for Indian exporters. The announcement, made by Commerce and Industry Minister Piyush Goyal, establishes a framework that significantly reduces the maximum US tariff from 50% to a standard rate of 18%, applied reciprocally. Existing tariffs on goods from other nations are also being adjusted, making Indian products more competitive globally. Comparatively, India’s new average tariff rate…