The bilateral trade agreement between India and the United States will be finalised once Washington offers the preferential rate, said union commerce and industry minister Piyush Goyal on Thursday.
Where the India-US deal stands
Speaking to reporters, the union minister added that the deal will be announced after the US offers India the proper terms, compared to other competitors. A tentative framework of the pact was announced by US President Donald Trump , and prime minister Narendra Modi Earlier this year, US Ambassador to India Sergio Gor and Goyal stated that the last one per cent of the trade deal is to be finalised, following which the documents will be signed. During this visit, Goyal will hold talks with his US counterpart, trade representative Jamieson Greer, to discuss the trade deal.
India and the United States first announced their trade deal in February 2026. However, with the deal yet to be formalised, the US announced an additional 10 per cent tariffs on countries, including India, from July 24 onwards.
