The US and India on Saturday announced that they have reached a framework for an interim trade agreement, under which America will reduce tariffs on India to 18 per cent, according to a joint statement issued by the White House.

It said the framework reaffirms the countries` commitment to the broader US-India Bilateral Trade Agreement negotiations launched by President Donald J Trump and Prime Minister Narendra Modi on February 13, 2025. The framework will include additional market access commitments and support more resilient supply chains.