Overview
- President Donald Trump said the US is "pretty close" to a new trade agreement with India and indicated tariffs on Indian goods would be lowered "at some point."
- Sergio Gor, a close Trump aide, was sworn in as US ambassador to India at an Oval Office ceremony, underscoring the White House’s focus on the relationship.
- Trump linked prospective tariff cuts to India reducing purchases of Russian oil, a claim presented as his assertion and not formally confirmed by New Delhi in these reports.
- US tariffs on many Indian goods were lifted to as high as 50% earlier this year, including a 25% penalty tied to Russian crude imports, straining ties during negotiations.
- Talks on a Bilateral Trade Agreement have completed multiple rounds toward a first-phase deal targeting expanded commerce, with India’s Piyush Goyal saying progress continues but sensitive issues remain.