India and the United States have agreed on a framework for a bilateral trade deal under which Washington will reduce tariffs on Indian goods to 18% from the current 50%.The announcement is significant as the US had imposed steep duties on Indian exports entering American markets, effective August 27, 2025.

In August 2025, Washington announced a 25% tariff along with an additional 25% punitive duty on India for purchasing Russian crude oil and military equipment. These duties were imposed over and above existing tariffs on Indian goods. Under the new framework, the overall duty has now been brought down to 18% .Prime Minister Narendra Modi welcomed the move, saying he was delighted that “made in India products will now have a reduced tariff of 18%.”Tariffs are customs or import duties imposed by a country on goods bought from other nations.

How India compares globally

A comparison of US tariff rates across major economies places India in the middle of the global tariff spectrum, with an 18% duty on its exports.Brazil faces the steepest tariff at 50% , followed by Myanmar and Laos at 40% each. China attracts a 37% tariff, while South Africa faces a 30% levy.Several manufacturing hubs in Southeast Asia are subject to duties in the 19–20% range, including Vietnam and Bangladesh at 20% , and Malaysia, Cambodia and Thailand at 19% each.With an 18% tariff, India is now placed below most emerging-market competitors, offering it a relative pricing advantage in the US market.Advanced economies enjoy significantly lower tariffs. The European Union, Switzerland, Japan and South Korea each face a 15% duty, while the United Kingdom has the lowest rate at 10% .The reduction in tariffs is expected to benefit India’s labour-intensive sectors, as exporters will be able to price their products more competitively in the US market.

Why the US imposed tariffs

The US has argued that it faces a significant trade deficit with India, blaming New Delhi for imposing high tariffs on American goods, which it says restrict US exports to the Indian market.Under the proposed pact, India is expected to eliminate duties on certain goods immediately, phase out duties on others, reduce tariffs in some sectors, and offer quota-based tariff concessions for select products.However, sensitive sectors such as agriculture and dairy remain completely outside the ambit of the agreement, PTI reported.An executive order from the US is expected to provide greater clarity on tariff changes, while a joint statement from both countries will outline the sectors covered under the deal. Both are awaited.

Air India Plane’s Fuel Control: The Ministry of Civil Aviation on Tuesday issued a rejoinder on the news item relating to the purported malfunction of the fuel cut-off switch on Air India’s Boeing B787-8 aircraft VT-ANX in London. 

The rejoinder states that, based on the Boeing recommended checks to establish the serviceability of the fuel control switch, Air India engineering observed that: “Both left and right switches were checked and found satisfactory, with the locking tooth fully seated and not slipping from RUN to CUTOFF. When full force was applied parallel to the base plate, the switch remained secure. However, applying external force in an incorrect direction caused the switch to move easily from RUN to CUTOFF, due to the angular base plate allowing slip when pressed improperly with finger or thumb.”

In addition, based on Boeing’s communication, the pull-to-unlock force was checked on the fuel control switch using the recommended procedure on the involved fuel cut-off switch, the fuel control unit to be installed, and the fuel cut-off switch of another aircraft. In all cases, the pull-to-unlock force was found within limits. These inspections were carried out in the presence of DGCA officers, the ministry’s statement said.

The video currently circulating on social media was analysed in light of Boeing’s recommended procedures, and it was observed that the procedure demonstrated in the video being circulated is incorrect, the statement observed.

The airline is being advised to circulate the Boeing recommended procedure for the operation of the Fuel CUT OFF switch to its crew members, the statement said.

On February 1, 2026, Air India B787-8 aircraft VT-ANX operated flight AI 132 (London- Bengaluru). During engine start in London, on two occasions, the crew observed that the fuel control switch did not remain positively latched in the ‘RUN’ position when light vertical pressure was applied. On the third attempt, the switch latched correctly in ‘RUN’ and subsequently remained stable. Before continuing with the rest of the procedure, a physical verification was performed by the crew to confirm that the switch was fully and positively latched in the ‘RUN’ position. No abnormal engine parameters, cautions, warnings, or related system messages were observed during engine start or at any time thereafter.

The operating crew member was briefed on the observation, unnecessary contact with the switch was avoided, and engine indications and alerting systems were closely monitored by the crew for the remainder of the flight. The flight was completed without incident.

After landing at Bengaluru, the crew reported the defect in the PDR. Air India referred the matter to Boeing for further guidance, after which the airline’s engineering department carried out the checks in the presence of DGCA officials, the statement said.

The Unite trade union has criticised oil giant ExxonMobil as it shuttered its Mossmorran plant.

The Fife Ethylene Plant was due to close this month, but the union claimed it was shut down early, with production ending on Monday.

Exxon announced the impending closure last year, with around 400 jobs at risk as a result, claiming it was no longer financially viable.

No immediate job losses are expected as a result of the end of production on Monday, but it is understood 69 staff will leave at the end of April, with 90 remaining to complete the decommissioning of the site, who will then leave in three waves up until the expected completion in early 2028.

According to the firm, 20 staff have chosen to relocate to other parts of ExxonMobil’s UK operation.

Along with the firm’s own staff, around 250 contractors worked on the site.

In a statement, a spokesman for the company said: “After more than 40 years of operations, Fife Ethylene Plant permanently shut down production on February 2.

“In the months ahead the plant will be fully decommissioned and made safe for dismantling. We anticipate this process to be completed by early 2028.”

But the trade union hit out at the firm, claiming it had ended production early.

ExxonMobil had previously planned to close the plant on February 16, but it is understood an operational issue with a unit on the site, which would have required multiple days for repair and to restart, was the reason for the early closure.

Unite’s general secretary Sharon Graham said: “This is another nail in the coffin of the oil and gas industry, with jobs haemorrhaging on this government’s watch.

“Unite has said repeatedly that the government should not be letting go of one rope before it has hold of another.

“Importing oil and gas while we offshore our carbon responsibilities is quite frankly an abdication of responsibility which makes us more vulnerable and betrays workers.

“ExxonMobil’s decision to close Mossmorran ahead of schedule is a disgrace and a betrayal of its workers.

“This is an enormously profitable multi-billion pound company and this unnecessary decision will have a devastating impact on the local community in Fife.”

Deputy First Minister Kate Forbes said the news would be “difficult” for workers, but the Scottish Government was “doing all it can to support them”.

“I have written to worker representatives to assure them of our support and to ExxonMobil to ask that the workforce is prioritised,” she said.

“We have committed £9 million over three years to mitigate the impacts of the plant’s closure, with our Partnership Action for Continuing Employment providing skills and employability support to workers.

“This funding will also support the site’s long-term future, with Scottish Enterprise identifying new investment opportunities.”

Scottish Tory business spokesman Murdo Fraser said the closure was a “terrible blow” for the area and the workers.

“As with Grangemouth, the SNP government promised swift action to protect workers and the local community, but their task force didn’t even meet until last week,” he said.

“These closures are the inevitable result of Labour and the SNP having created a hostile environment for businesses, especially those connected with the oil and gas sector, by piling on punitive taxes and regulations.

“Ministers must now ensure that there is decisive action to support those affected, and not merely empty promises.”