United States-India Joint Statement

Key Points

• The United States and India have agreed on a new plan to make trading between the two countries easier and cheaper. India will lower or remove taxes, known as tariffs, on American products like industrial tools, fruit, wine, and nuts. This makes it easier for American farmers and factories to sell their goods to over a billion people in India.
• In return, the U.S. will change how it taxes goods coming from India. While some Indian products like clothes and shoes will face a new 18% tax, other important items like generic medicines, diamonds, and airplane parts will have their taxes removed. This is part of a plan to make sure trade between the two countries is fair and balanced.
• India has promised to buy $500 billion worth of American products over the next five years. This includes energy, airplanes, and high-tech equipment like computer chips used in data centers. This massive purchase is intended to support American jobs and grow the U.S. economy by increasing exports.
• The agreement also cuts through "red tape" that makes it hard for companies to do business. India will simplify its rules for American medical devices and technology products. Both countries also plan to work together on digital trade and making sure their supply chains for essential goods are strong and secure.

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