It's only Interim.

The India-US Joint Statement on a trade deal has been announced which brings down reciprocal tariffs on a range of Indian goods exported to the US to 18%. Reciprocal tariffs on a wide range of goods could be removed "subject to the successful conclusion of the interim agreement." "India intends to purchase $500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products, and cooking coal over the next 5 years." pib.gov.in. A reciprocal tariff of 26% was imposed on India in the Executive Order 14257, published on 4 April 2025, which complained that "the United States has among the lowest simple average MFN (most favored nation) tariff rates in the world at 3.3%," India was charging a rate of 17%. A rate of 70% on passenger vehicles, 80% for rice in the husk, 50% for apples and 10% for network switches and routers. Seems to have a point. At 18%, India will have an advantage over Vietnam (20%) and Indonesia (19%), wrote Arpita Mukherjee. "The deal comes at a time when exporters of labor-intensive products like garments, footwear and leather items were feeling the pinch of high tariffs imposed in 2025." "Under the agreement, India will remove or reduce tariffs on all US industrial goods and a broad basket of agricultural products, including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine and spirits." India Today. Red sorghum, or Lal Jowar, is already grown in India (gonefarmers.com), so why do we need to import it free of tariffs? While most goods sold in India come under the goods and services tax (GST) is collected by the Union government, states levy their own taxes on alcoholic drinks. "It's estimated that taxes on liquor and beer fetch the state governments nearly Rs 900 billion annually." cleartax.in. Will states be free to levy their own taxes on American wine and spirits, which will raise their prices, and if not, will they have to reduce taxes on Indian wine and spirits so that they can compete? Commerce Minister Piyush Goyal "asserted that India's sensitive agricultural and dairyprocuts sectors will continue to be shielded. He also clarified that no genetically modified products from the US will be allowed in India as part of the trade deal." TOI. "The joint statement says both sides have agreed to strengthen economic security alignment to enhance supply chain resilience and innovation through 'complementary actions'," which, according to Global Trade Research Initiative (GTRI) founder Ajay Srivastava "suggests that India's security and economic policies may increasingly need to align with those of the United States." TNIE. Reassuringly, "Adani Group Chairman Gautam Adani and his nephew Sagar Adani have hired prominent attorneys in the US - including one of Donald Trump's lawyers and a former Mafia prosecutor - to represent them in their defence against allegations of securities fraud levels by the Securities and Exchange Commission." Mint. The Mafia and the Don, they should be safe. India is paying only $500 billion for the trade deal. Seems like a bargain.