In a major shift for global trade, U.S. President Donald Trump has announced that import tariffs on Indian goods will be slashed from 50% to 18%. The decision follows a high-level diplomatic call between the President and Indian Prime Minister Narendra Modi.

The reduction is expected to provide a massive boost to India's IT, textile, and manufacturing sectors, which had been struggling under the previous high-tariff regime. This move is seen as a strategic alignment between the two nations to balance economic influence in the Indo-Pacific region.

While the markets have reacted positively to the news, some U.S. domestic manufacturers have expressed concern over increased competition. However, the administration maintains that lower tariffs will reduce costs for American consumers and strengthen the "Special Relationship" between Washington and New Delhi.