India, US almost set to seal 1st phase of trade deal

India Nov 18, 2025

India and the US are close to wrapping up the first part of a new trade agreement, aiming to ease steep tariffs on Indian goods—like a 50% duty and extra penalties tied to Russian oil imports.
After six rounds of talks, both sides hope to sign off by this Fall.

Why should you care?

This deal could mean fewer hurdles for Indian exports, which have dropped recently thanks to those tariffs.
Commerce Minister Piyush Goyal says protecting farmers and small businesses is a top priority.
There's also a fresh agreement for India to import US liquefied natural gas (LNG), showing how both countries want stronger economic ties—and plan to grow trade from $191 billion now to $500 billion by 2030.