India-US Trade Deal Status

US President Donald Trump has indicated that a trade agreement with India has not yet been finalized, just two days before the August 1, 2025 reciprocal tariff deadline. Trump hinted at imposing tariffs of 20-25% on Indian goods, citing India's high tariff rates compared to other countries.

Negotiations and Potential Outcomes

Despite ongoing negotiations, the likelihood of an interim trade deal announcement before the deadline appears slim. Indian officials are preparing for temporary reciprocal tariff rates, anticipating elevated US tariffs on certain export items as an interim arrangement.

India's Stance and Future Talks

India has maintained a firm position, especially regarding its agriculture and dairy sectors. US Trade Representative Jamieson Greer mentioned the need for further negotiations to finalize a trade agreement, highlighting the constructive discussions between the two nations.

Commerce Minister Piyush Goyal remains confident about avoiding the proposed tariffs, emphasizing the positive US-India relationship and the rapid advancement of negotiations, with India's national interests being paramount.