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India and the United States issued a joint statement in the early hours of Saturday, announcing an “Interim Agreement regarding reciprocal and mutually beneficial trade”. The long-anticipated deal comes nearly a year after it was first announced by Prime Minister Narendra Modi and US President Donald Trump on February 13, 2025 — a period marked by tariff wars and strained bilateral ties. The statement outlines a broad framework covering India’s tariff cuts on select US goods, a reciprocal tariff structure by Washington, possible removal of duties on key Indian exports, and the rollback of certain US national-security tariffs. It also highlights commitments on market access, Rules-of-Origin safeguards, removal of non-tariff barriers, and alignment on regulatory standards, alongside cooperation on economic security and technology. However, the Opposition has criticised the agreement, calling it a “surrender” that lacks clarity and detail. At 4.15 pm, The Federal will decode the joint statement with experts. 00:00 – Opening context 08:11 – Fine print 13:05 – Trade outlook 21:43 – Deal impact 24:30 – Framework critique 31:14 – Parliament scrutiny 36:57 – Russia impact 39:14 – Final outlook #IndiaUSTrade #CapitalBeat #DonaldTrump #NarendraModi #ReciprocalTariffs #TradeAgreement #NonTariffBarriers #RulesOfOrigin #RussianOil #EnergySecurity #PiyushGoyal #JairamRamesh #WTO