Overview

• Negotiations are intensifying to seal an interim deal before the 90-day suspension on the 26% US tariff expires on July 9, 2025.
• India is pushing for full exemption from the 26% reciprocal tariff and elimination of the remaining 10% baseline duty on its exports.
• White House economic adviser Kevin Hassett said the trade pact is “close to the finish line,” indicating strong US commitment.
• The interim agreement is expected to cover a limited range of goods and services while establishing a framework for a comprehensive trade pact by fall 2025.
• Officials say a successful interim deal would boost Indian exports, open new market access and advance the goal of doubling bilateral trade to $500 billion by 2030.