India-US trade deal in final stages of detailing, opens up a new phase in bilateral ties: EAM Jaishankar

EAM S Jaishankar

• India-US trade deal in final stages, set to be completed soon
• Tariff on Made in India products reduced from 25% to 18%
• India to buy over USD 500 billion in American goods, including energy

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Terming the India-US trade deal as “historic”, external affairs minister (EAM) S Jaishankar on Thursday said it is in the “final stages of detailing” that will be completed very soon.

The EAM’s remarks came as he concluded his February 2-4 visit to the United States during which he also took part in the Critical Minerals Ministerial hosted by the US Secretary of State Marco Rubio.

“Concluded a productive and positive visit to the US. Thank Secretary Rubio for his warm hospitality,” Jaishankar wrote on X.

“The historic India-US trade deal is in the final stages of detailing that will be completed very soon. It opens up a new phase in our bilateral ties, with vast possibilities for the relationship. Our critical mineral cooperation is also advancing rapidly. Expect engagement on strategic issues, defence and energy in the coming days. Overall, a strong momentum is evident,” he added.

During the US visit, the EAM also held separate meetings with senior members of the US administration including Rubio and Treasury Secretary Scott Bessent.

The meetings came after Trump announced on Truth Social that India and the US agreed to a trade deal under which Washington will bring down reciprocal tariff on Delhi from 25 to 18 per cent.

Following the trade agreement announcement, PM Modi said he was delighted that "Made in India products will now have a reduced tariff of 18 per cent".

"Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18 per cent. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement," Modi said.

President Trump said India will move forward to reduce "tariffs and non tariff barriers" against the US to zero, adding New Delhi would buy American goods, including energy, worth more than USD 500 billion.