India-US Trade Deal Nears Finalization: Tariffs May See Reduction

• The first phase of the India-US trade deal is nearing completion, with officials working to finalize the agreement.
• Commerce Secretary Rajesh Agarwal stated that the deal could help reduce reciprocal tariffs on Indian exports to the US.
• A virtual meeting between Commerce Minister Piyush Goyal and USTR in December was followed by continuous contact between negotiating teams.
• US President Donald Trump's 50% reciprocal tariffs on Indian goods have significantly impacted various export sectors.
• Despite tariff pressures, India's exports to the US grew by 9.8% year-on-year between April and December of FY26, driven by electronics.

Why It Matters: The first phase of the India-US trade deal is close to finalization, aiming to reduce tariffs and boost exports.