Overview
- Piyush Goyal said most discussions are complete and negotiators are now fine‑tuning the agreement, speaking Monday in The Hague.
- The February framework would cut average U.S. tariffs on Indian goods and phase zero tariffs for items such as generic medicines, gems and aircraft parts, while India would cut or remove duties on many U.S. industrial and agricultural products.
- The framework includes a reported India pledge to import roughly $500 billion of U.S. goods over five years, focused on energy, aircraft and technology products.
- Recent changes in the U.S. tariff landscape and a Supreme Court decision let either side alter commitments, so legal teams are reworking text to lock in reciprocal tariff and market‑access promises.
- Officials have kept up high‑level contact — Goyal met U.S. trade officials in Milwaukee and a delegation led by Commerce Secretary Rajesh Agrawal held talks in Washington — even as India pursues other free trade talks with regions like the GCC and EAEU.