Washington DC [United States], February 5 (ANI): Dhruva Jaishankar, the Executive Director of ORF America, said that the recent trade agreement between India and the United States has brought significant relief to the economic landscape.

Speaking exclusively to ANI, Jaishankar noted that the deal concludes a period of high trade tensions and sets a new path for bilateral commerce.

He highlighted that the announcement by US President Donald Trump to reduce Indian tariffs to 18 per cent is a central component of this breakthrough.

'It has brought a sense of relief to those who were concerned about the very high tariffs of 50 per cent that have been in place since September of last year and which now appear to go away,' Jaishankar said during the interview.

Jaishankar explained that while the broad strokes of the agreement are public, the specific mechanics of the deal are still being finalized.

'We're still awaiting details on the sequencing and I think we should expect in the next few days a joint statement by the two governments that will outline next steps, including the technical details on how to proceed forward with this trade deal,' he stated.

Earlier this week, US President Donald Trump announced a trade deal with India that slashes US tariffs on Indian goods to 18 per cent from 50 per cent in exchange for India halting Russian oil purchases and lowering trade barriers.

According to government sources, the upcoming joint statement is expected to be released this week to clarify the implementation process. This document will serve as the official roadmap for how both nations will phase in the new tariff structures.

The deal follows months of intense negotiations aimed at addressing market access issues and retaliatory duties that had hampered trade since late 2025. Experts believe the reduction in tariffs will specifically benefit sectors like agriculture, technology, and manufacturing by lowering the cost of doing business between the two largest democracies.

Industry leaders and market analysts have reacted positively to the news, describing the agreement as a balanced outcome for both economies. The consensus among experts is that the deal will stabilise the markets and encourage long-term investment. By moving away from the 50 per cent tariff wall, both nations are expected to see a surge in export volumes. (ANI)