US Tariff on Indian Goods: It may take 4-5 days for a joint statement on the trade deal between India and the US to be issued. After this, the 18% tariff imposed on India will become effective.

When will India be subject to an 18% tariff? Piyush Goyal's statement helps clear up any confusion.

US Tariff on Indian Goods: A trade deal has been reached between India and the United States. Under this agreement, the reciprocal tariff on Indian goods imported into the US has been reduced from 25 percent to 18 percent. This will come into effect in the next four to five days.

Commerce and Industry Minister Piyush Goyal said on Thursday that the US has significantly reduced tariffs on Indian exports under the bilateral trade agreement, which will be implemented "in the next four to five days" after the signing of a joint statement between the two countries. He further stated that India will implement the reductions on US goods by mid-March.

Tariff will come directly from 50 to 18 percent.

He further stated, "Based on that joint statement, the first phase of this partnership between us (the US and India) will begin." Immediately following the statement, US President Donald Trump will issue an executive order reducing the additional tariff on Indian exports to the US from 50% to 18%. The US currently imposes a 50% tariff on India. This includes a 25% reciprocal tariff and a 25% penalty for purchasing oil from Russia.

What did he say about the $500 billion investment in America?

Piyush Goyal also stated that India has not made any commitment to invest in the US under the deal announced by Trump late Monday night. His clarification came after a White House spokesperson stated that India would invest $500 billion in the US under the trade deal. His comment may have been due to some confusion, as India has only agreed to purchase $500 billion worth of products from the US under the deal. Goyal stated that these purchases will occur over the next five years. Trump, when announcing the deal, had stated that India would purchase energy, technology, agriculture, coal, and several other products from the US.