Overview

• Commerce Minister Piyush Goyal says discussions are progressing in a cordial atmosphere with no deadline and that India will not sign without safeguarding core domestic priorities.
• Negotiators from both sides described constructive meetings in Washington and said differences on tariffs and market access have narrowed, though no agreement has been reached.
• President Donald Trump warned India will continue to face “massive tariffs” if Russian oil purchases persist and repeated his claim that PM Modi assured a halt, a statement New Delhi disputes.
• The U.S. currently levies a 50% tariff on many Indian goods, split between a 25% base duty and an additional 25% tied to Russian oil buys, while Indian officials say about 45% of exports remain outside these measures.
• Geopolitical shifts involving China and critical minerals are influencing U.S. leverage, with analysts suggesting Washington could consider mid‑teens tariff access for India as talks aim to expand bilateral trade.