Overview

• Commerce Secretary Howard Lutnick said negotiators have “found a place that really works for both countries” and expressed confidence in a deal soon.
• A senior U.S. delegation has arrived in New Delhi for what officials describe as the final round of in-person negotiations ahead of the June 30 interim deadline.
• India is lobbying for full exemption from the 26% reciprocal tariff Washington currently imposes on its exports, a major sticking point in talks.
• The United States is pressing for expanded market access in India in exchange for tariff relief and measures to reduce the bilateral trade deficit.
• Officials view the interim pact as a stepping stone to a broader multi-sectoral agreement by September or October under the Mission500 plan to double trade to $500 billion by 2030.