Overview

• Commerce Secretary Rajesh Agrawal led talks in Washington from October 15–17 and has returned to New Delhi, with the next meeting yet to be scheduled.
• Commerce Minister Piyush Goyal said negotiations are proceeding in a cordial atmosphere and reiterated there is no deadline-driven approach to a deal.
• An Indian official said recent discussions narrowed differences and that no major gaps remain, characterizing the latest round as positive.
• Steep U.S. duties on Indian goods remain in force, including an additional 25% linked to purchases of Russian crude on top of other tariffs that together reach about 50%.
• Both sides had targeted a first tranche by fall 2025, but India has not committed to a timeline; outside analysts cite geopolitical incentives for potential U.S. concessions, with no tariff rollback announced.