White House releases Joint Statement on India-U.S. interim trade deal

The White House on Friday, February 6, 2026, issued a Joint Statement on an interim trade agreement framework between the two countries, which the United States and India said confirmed their commitment to negotiations for a broader bilateral trade agreement initiated by President Donald Trump and Prime Minister Narendra Modi on February 13, 2025.

“The United States and India will immediately implement this framework and work to finalize the Interim Agreement to finalize a mutually beneficial BTA consistent with the roadmap agreed in the Terms of Reference,” the joint statement said.

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“India will eliminate or reduce tariffs on all U.S. industrial products and a wide range of U.S. food and agricultural products, including dried distillers grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine and spirits, and supplements,” the statement said.

“The United States and India are committed to continuously providing each other with preferential market access in relevant sectors,” the statement said.

The US will impose reciprocal tariffs of 18% on Indian goods, reduced from the previous 25%. Mr. Trump issued an executive order rescinding additional 25% tariffs on India’s purchases of Russian oil, stating that India was committed to halting imports of Russian oil and buying more U.S. energy products. The order warns that tariffs will be reimposed if India “resumes” imports of Russian oil.

“India has committed directly or indirectly to halt imports of Russian Federation oil, stated that it will purchase energy products from the United States, and recently committed to a framework to expand defense cooperation with the United States over the next 10 years,” Mr. Trump said in his order.

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“If the Secretary of Commerce determines that India has resumed importing, directly or indirectly, Russian Federation oil, the Secretary of Commerce, in consultation with the Secretary of State, the Secretary of the Treasury, the Secretary of Commerce, the Secretary of Homeland Security, the United States Trade Representative, the Vice President for National Security Affairs, the Vice President for Economic Policy, and the Vice President for Commerce and Production and Senior Counsel, will recommend whether and to what extent I should take additional action with respect to India. The decision includes a 25 percent additional value-based tax on India’s imported goods.” It was stated that the rate should be reapplied.

The joint statement comes after Union Commerce Minister Piyush Goyal said on Thursday, February 5, 2026, that India and the US will finalize and sign a joint statement on the trade agreement in the “next 4 to 5 days”. External Affairs Minister Jaishankar had also said that details were expected “soon”.