A person familiar with talks said the U.S. has assured India it would face lower
tariffs than comparable countries under a draft U.S.-India trade agreement that
is nearing finalization. The first phase of the agreement, after nearly two
years of negotiation, would cover goods only; services will be negotiated in a
later phase. The two sides agreed a framework earlier this year but have not
signed a pact; a series of U.S. trade probes has complicated talks. New U.S.
measures allowing President Trump to impose up to 100% tariffs on major buyers
of Russian oil — currently exempted — have added tension. Officials in Delhi and
Washington say the deal is very close and most issues are resolved. Commerce
minister Goyal said a U.S. team visited India in early November and described
the outcome as "a very good deal" that will be "one of the best agreements India
has with the U.S.".
