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 Tr

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.".