President Donald Trump said Oct. 20 that a U.S. trade agreement with India was close and would differ from previous deals, but he offered no details on the proposed terms.
At a White House event, Trump described the two countries as “pretty close” to an agreement. He did not explain what would distinguish it from earlier deals.
Speaking in Mumbai, Secretary of State Marco Rubio said negotiators had a few matters left to resolve, as detailed in earlier coverage of his remarks. He expressed hope for an announcement soon.
The two governments announced a framework for an interim agreement on Feb. 6. It proposed an 18% U.S. reciprocal tariff on specified Indian goods and removal of that tariff on some other goods if the interim agreement is successfully concluded. India said it intended to purchase $500 billion in specified U.S. products over the following five years.
The framework also called for India to reduce tariffs on U.S. industrial goods and some food and agricultural products. Those proposed cuts would offer U.S. exporters greater market access, while tariff relief for some Indian goods depends on completing the interim agreement.
Negotiations toward a broader bilateral trade agreement were launched on Feb. 13, 2025. The February framework calls for an interim pact to be finalized while those talks continue. Neither Trump nor Rubio identified the remaining issues or set a signing date.
