Tariff cut to 18% is positive, but impact can be assessed only after the deal is finalized, says Nirmala Sitharaman.

The US tariffs on Indian imports have been reduced to 18%, according to Union Finance Minister Nirmala Sitharaman on Tuesday. However, she emphasized that a definitive evaluation of the India-US trade agreement cannot be made until the full agreement is formally disclosed. 

Sitharaman told ABP News that the trade agreement’s precise details have not yet been finalized and reaffirmed that India’s stance has already been made clear in Parliament by Commerce Minister Piyush Goyal, especially with regard to sensitive industries. She emphasized that compared to nations like Bangladesh and Cambodia, the new tariff rate is far cheaper. 

The finance minister addressed worries about dairy and agriculture, stating that farmers’ interests have not been compromised. She stated that in keeping with Prime Minister Narendra Modi’s goal of making sure that “Made in India” goods live up to international standards, the government is concentrating on both increasing output and enhancing quality. 

Sitharaman stated that the national interest will be the only consideration in any government decision pertaining to Russian oil imports. 

Additionally, she stated that the Union Budget 2026 should be considered as a long-term blueprint rather than being evaluated just on numerical metrics and that it is the first tangible step towards realizing the aim of “Developed India 2047.” 

Source – ABP Network