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The India-US interim trade agreement joint statement released today and it has triggered political controversy. Opposition leaders, including Congress MPs Manish Tewari and Jairam Ramesh, and SP and TMC representatives, criticized the deal for potentially harming Indian farmers, increasing trade deficits, and weakening economic sovereignty.
India to Cut Tariffs on US Products; Opposition Warns of Farmer Losses
New Delhi: Political controversy has intensified over the framework of the interim trade agreement between India and the United States announced today on Saturday. Congress leader Manish Tewari expressed concern over the language in the joint statement, saying it suggests India will eliminate or reduce tariffs on American industrial and agricultural products.
According to him, the words used for the industrial sector appear to be "completely open," while the expression "not restricted" in the agricultural sector suggests potentially extensive concessions. Tewari has demanded a detailed discussion on this issue in Parliament.
Does this sentence 👇 in the Indo-US Joint Statement of 6 th February2026 mean that India has agreed to open up its Industrial and agricultural sectors completely to the United States without any let or hindrance ?
The Industrial Sector seems to have been thrown wide open and…
— Manish Tewari (@ManishTewari) February 7, 2026
Congress MP Jairam Ramesh also criticized the agreement, saying it could harm Indian farmers and benefit American farmers. He claimed that steps like India's decision to stop oil imports from Russia and reduce tariffs on American agricultural products could impact the economy. He also expressed uncertainty about the India-US trade balance and services exports.
The United States-India Joint Statement just issued is silent on details. But from what has been revealed it is clear that:
1. India will no longer import oil from Russia. Separately the US has announced that 25% penalty could be reimposed if India buys oil directly or…
— Jairam Ramesh (@Jairam_Ramesh) February 7, 2026
Samajwadi Party MP Rajeev Rai called the agreement a "compromise on the nation's dignity" and alleged that it would cause huge losses to farmers. He said that India would reduce taxes on many American products, while the US would continue to impose tariffs on Indian goods.
अमेरिका-भारत का संयुक्त घोषणापत्र जारी हुआ ।
ये सिर्फ़ हमारे हितों का ही नहीं देश के सम्मान से भी समझौता हुआ है ।किसानों की बर्बादी लिखी गई है ।अमेरिका के कृषि उत्पादों सहित कई वस्तुओं पर भारत कोई टैक्स नहीं लेगा लेकिन अमेरिका भारत से 18 परसेंट टैक्स लेगा ।
अब तक की कमजोर… pic.twitter.com/2WOlz6zV3h
— Rajeev Rai (@RajeevRai) February 7, 2026
TMC MP Saket Gokhale also called the agreement "one-sided," saying that the commitment to import $500 billion from the US over the next five years could increase India's trade deficit and put pressure on its currency. He said this could lead to a rise in the import bill or costlier imports.
Why the India-US trade deal framework announced last night is DISASTROUS for India 👇
👉 The annual value of imports from US to India for the last 3 years has been between $40-42 billion. Now, India has committed to increasing that by 11X to $500 billion over 5 years.
Imagine…
— Saket Gokhale MP (@SaketGokhale) February 7, 2026
India and the United States have agreed on the framework of an interim trade agreement to promote reciprocal and balanced trade, marking a historic milestone in their economic partnership. Under the agreement, India will reduce or eliminate tariffs on a wide range of US industrial and agricultural products, while the US will impose an 18% reciprocal tariff on select Indian goods with potential relief on key items. The deal also includes a $500 billion boost in energy, technology, and aircraft trade over five years, aiming to create jobs and enhance supply chain resilience.
