Daijiworld Media Network - Washington

Washington, Feb 7: The United States and India on Friday moved a step closer to a broader trade pact, releasing an interim framework aimed at lowering tariffs, reshaping energy cooperation and deepening overall economic engagement as both nations look to realign global supply chains.

In a joint statement, the two governments said the framework reaffirms their commitment to continued negotiations toward a comprehensive bilateral trade agreement, while acknowledging that further discussions are required to finalise the deal.

As per the interim agreement, India will eliminate or reduce tariffs on all US industrial goods and a wide range of American food and agricultural products. These include dried distillers’ grains, red sorghum for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine and spirits, among other items.

“The US and India are pleased to announce that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade,” the joint statement said, highlighting the intent of both sides to expand market access and strengthen economic cooperation.

Officials noted that the framework is expected to serve as a foundation for a more expansive trade pact, with negotiations set to continue in the coming months.