'Trump says India will buy over $500 billion of US goods.' 'At present, India's annual imports of goods and energy from the US are under $50 billion.' 'Reaching $500 billion would likely require more than 20 years, suggesting the figure refers to a long-term aspiration rather than a near-term commitment.'
The White House has revised a fact sheet on the interim trade deal between the United States and India, removing the reference to "pulses" from the list of American products on which India would eliminate or reduce tariffs. The revised sheet also changed "committed" to "intends" regarding India's purchase of American products.
'Based on the joint statement, a formal agreement will be drafted, which may take a month or month-and-a-half to finalise. We aim to sign the formal agreement by mid-March.'
Trump's outburst comes amid escalating tensions between the US and its northern neighbour, following recent remarks by Canadian Prime Minister Mark Carney at the World Economic Forum (WEF) in Davos.
US and India will promptly implement this framework and work towards finalising the interim agreement with a view to concluding a mutually beneficial bilateral trade agreement.
Indian equities on Dalal Street saw volatility. Track Sensex, Nifty50 movement and key market drivers for Feb 25, 2026.
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
Both countries commit to provide each other preferential market access in sectors of respective interest on a sustained basis
The Congress MP said he had been "troubled" by the US tariff regime from the very beginning, adding that India was already at a disadvantage compared to its regional competitors.
The country's exports rose marginally by 0.61 per cent to $36.56 billion in January, while trade deficit widened to a three-month high of $34.68 billion, government data showed on Monday.
United States Senator Lindsey Graham on Sunday claimed that Indian Ambassador to the US Vinay Mohan Kwatra spoke to him last month about India buying less Russian oil and asked him to tell President Donald Trump to relieve the 25 per cent tariff.
In the wake of the FTA between India and the European Union, the United States has described the Europeans as 'very disappointing', saying they were unwilling to join Washington, DC in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal.
India has completely protected the interests of its agriculture and dairy sector in the India-US trade agreement.
China's Foreign Ministry has refuted allegations of providing military support to Iran, warning the US against imposing tariffs based on these accusations. The statement follows reports of Iran acquiring a Chinese satellite for targeting US military bases. Meanwhile, a rescheduled meeting between Presidents Trump and Xi Jinping is set for May.
In a veiled attack on US President Donald Trump, Canada's Minister of Energy and Natural Resources Tim Hodgson on Tuesday said India's free trade agreement with the European Union is a "perfect" answer to global hegemons that use tariffs and economic integration as tools of coercion.
India's marine product exports facing rough weather from punitive US tariffs are expected to get a big boost following the reduction of 26 per cent tariff as part of the India-EU Free Trade Agreement (FTA), but concerns over non-tariff barriers, which are a dominant aspect of marine trade to the EU, still remain.
US Treasury Secretary Scott Bessent indicated a potential pathway to remove tariffs imposed on India for purchasing Russian oil, citing a significant decrease in such purchases. He also criticized Europe's approach and accused India of profiting from discounted Russian oil.
Stock market benchmark indices Sensex and Nifty surged in early trading session on Tuesday after India and the US agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from current 25 per cent.
United States President Donald Trump has brushed aside French President Emmanuel Macron's call for an emergency G7 meeting amid escalating tensions over Washington, DC's push to acquire Greenland, while Europe has warned of retaliatory trade action against US tariff threats.
Trump repeated the assertion that Sharif had claimed he saved "25 million lives" when he stopped the war between India and Pakistan.
The India-US trade deal has offered a much-needed breather for the Indian information technology (IT) industry, which has been grappling with global macroeconomic uncertainty and subdued client spending over the past few years.
The Congress party has criticized the Indo-US trade agreement, calling it a 'surrender' of India's self-esteem and interests, and a betrayal of Indian farmers and MSMEs.
Modi's remarks came hours after the US and India agreed on a trade deal under which Washington will bring down reciprocal tariff on Indian goods to 18 per cent from current 25 per cent.
The India-US ties witnessed a major downturn after President Trump slapped a whopping 50 per cent tariff on Indian goods, including a 25 per cent punitive levy over Russian oil purchases.
The Congress attacked the Modi government, saying it now seems to be routine that India learns about its government's actions only from Trump or his appointees.
European Commission President Ursula von der Leyen says India and the EU are close to a 'historic trade agreement' that could create a market of two billion people and account for almost a quarter of the global GDP.
Trump made the announcement in response to what he described as China taking "an extraordinarily aggressive position on trade" by sending "an extremely hostile letter to the world."
The Indian rupee depreciated by 32 paise to close at 92.83 against the US dollar, influenced by escalating global tensions, particularly the US-Iran conflict, and the deadline for the RBI's instructions to banks to curb overnight positions.
Canadian Prime Minister Mark Carney on Tuesday warned that the world is witnessing a fundamental 'rupture' in the global order rather than a gradual transition, cautioning against weaponising trade, finance, and supply chains.
After three consecutive months of heavy selling, foreign portfolio investors (FPIs) turned net buyers in the first week of February, infusing more than Rs 8,100 crore in Indian equities, aided by improving risk sentiment, along with a trade deal with the US.
The World Bank has affirmed India's strong position to withstand the current global energy shock, citing high foreign exchange reserves, fiscal space, and low inflation as key buffers supporting continued growth despite international headwinds.
The Indian rupee depreciated by 52 paise to settle at 93.35 against the US dollar, driven by failed US-Iran peace talks, surging crude oil prices due to a potential US blockade of Iranian ports, and a global flight to the greenback. This geopolitical uncertainty is also leading to foreign capital withdrawal from domestic equities.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
The Indian government has imposed import restrictions on all forms of gold, silver, and platinum articles to prevent misuse of free trade agreements (FTAs). The restrictions apply immediately, regardless of prior contracts or commitments.
'This has translated into a combined daily loss of 60 crore in revenues for exporters in Tiruppur, Coimbatore, Erode and Karur districts, pushing many small and medium enterprises to the brink of collapse.'
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
A trade deal makes sense only if it is fair and reciprocal. If the cost is strategic dependence or loss of policy space, waiting is the wiser option, asserts Ajay Srivastava.
Talks on the proposed trade deal between India and the United States will resume after the year-end holidays, coinciding with Sergio Gor -- a close aide of American President Donald Trump -- taking charge as the US Ambassador to India in early January, according to a person privy to the development.
Representatives Deborah Ross of North Carolina, Marc Veasey of Texas and Raja Krishnamoorthi of Illinois introduced the resolution on Friday in the House of Representatives to terminate Trump's national emergency authorising tariffs of up to 50 per cent on imports from India, helping to restore Congress' constitutional authority over trade.
'Engaged in very fruitful discussions to expand our trade and economic partnership.'
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