IP Law Daily, VITAL BRIEFING—Trump, India’s Modi announce trade deal; tariff rates to drop, (Feb 6, 2026)
The drop brings U.S. tariffs against India in line with other countries, which range from about 15 to 19 percent.
The U.S. will lower tariffs against India to 18 percent in exchange for certain commitments including buying more oil from the U.S. and Venezuela, according to President Donald Trump. The previous rate was 25 percent plus a 25 percent duty for purchasing sanctioned Russian oil.
According to Trump, India agreed to cut its U.S.-directed trade barriers to zero and buy American products at a “much higher level,” including $500 billion dollars of products from various sectors.
Trump also announced that China has agreed to increase its purchases of U.S. soybeans by millions of tons over the next three years, causing a jump in soybean futures prices.
In this edition of Tariffs Insights, Thomas Thompson discusses the impact on the global trade picture.
Click here to read Trump, India’s Modi announce trade deal; tariff rates to drop.
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