US and India close in on trade deal that could slash tariffs to 15-16%

FXStreetOct 22, 2025 1:42 AM

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The United States (US) and India are close to reaching an agreement that could slash the current tariffs for Indian exports from 50% to 15–16%, according to three people aware of the matter.

The report also stated that India may gradually reduce imports of Russian oil while allowing in some GMO corn and soymeal.

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