<h1>India-US interim trade pact cuts tariffs to 18%, removes extra 25% levy, and commits to reciprocal market access and barrier removal.</h1> The framework establishes an Interim Agreement under which the US removes the additional 25% duty and reduces import duties on Indian goods to 18%, while India will eliminate or reduce tariffs on US industrial and agricultural products and grant a preferential tariff rate quota for certain automotive parts; the framework provides for product specific tariff eliminations upon conclusion, addresses non tariff barriers and standards cooperation, permits reciprocal modification of commitments, and will be converted into a legal agreement expected to be signed by mid March with concessions effective after signature.