It is reported that an interim trade agreement is to be reached between India and the United States.
Under this agreement, the tariffs imposed on India could be less than 20%, which will give India an advantage over other countries in the region in the eyes of the United States.
Foreign media reports that the United States will announce the tax rate under this trade agreement without issuing a letter of new tariffs to India like other countries.
This bilateral agreement is significantly different from the agreements that US President Donald Trump follows with most other trading partners. India was among the first countries to initiate trade talks with the White House this year and come to a tariff review.