The trade deal with the US that came through after many hiccups and months of negotiations is the "best in the neighbourhood", Union minister Piyush Goyal said today.
The deal was announced yesterday — first by US President Donald Trump and then by Prime Minister Narendra Modi who thanked him.
While the fine print is yet to be announced, Trump, in a post on his social media account Truth Social, said India and the US have "agreed to a Trade Deal" under which the US will cut reciprocal tariff from 25 per cent to 18 per cent.
This is one of the lowest tariffs the US has announced for competing economies and way lower than India’s neighbours — including China and Pakistan — are paying.
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