US-India trade deal likely in 3-4 months, says senior US official
A senior US official has said that negotiations between the two countries are almost complete, with only a few procedural steps remaining before the deal can be finalised.
A long-awaited trade agreement between India and the United States could finally be signed within the next three to four months. A senior US official has said that negotiations between the two countries are almost complete, with only a few procedural steps remaining before the deal can be finalised, reported The Economic Times.
Speaking on the sidelines of the ASEAN Foreign Ministers' meeting in Manila, the official said the agreement is effectively ready.
The official said the agreement was essentially ready, adding that the remaining delay was linked to ongoing US trade investigations rather than any unresolved issues between India and the United States.
SECTION 301 INVESTIGATIONS REMAIN THE FINAL HURDLE
According to the official, Washington first needs to complete its Section 301 trade investigations. The law allows the US government to investigate unfair trade practices and, if required, impose tariffs or take other trade-related action.
The official said a key Section 301 probe involving 60 countries should be completed this week or next. Once all the ongoing investigations are finished, the US expects to make progress on trade agreements with India as well as other nations.
When asked about the timeline, the official said the agreement could be signed in another three to four months.
TARIFF ISSUES REMAIN IN FOCUS
The update comes as Washington has proposed tariffs of up to 12.5% on several countries, including India, over allegations that they failed to curb trade in goods produced using forced labour.
Separately, US President Donald Trump announced that generic medicines imported into the United States will remain exempt from tariffs for two years from August 1. After that, such imports will face tariffs of 100% for one year, followed by 200% thereafter.
The move could affect India's pharmaceutical industry, as the United States accounted for $9.7 billion, or nearly 38%, of India's $25.8 billion pharmaceutical exports in 2025.
A long-awaited trade agreement between India and the United States could finally be signed within the next three to four months. A senior US official has said that negotiations between the two countries are almost complete, with only a few procedural steps remaining before the deal can be finalised, reported The Economic Times.
Speaking on the sidelines of the ASEAN Foreign Ministers' meeting in Manila, the official said the agreement is effectively ready.
The official said the agreement was essentially ready, adding that the remaining delay was linked to ongoing US trade investigations rather than any unresolved issues between India and the United States.
SECTION 301 INVESTIGATIONS REMAIN THE FINAL HURDLE
According to the official, Washington first needs to complete its Section 301 trade investigations. The law allows the US government to investigate unfair trade practices and, if required, impose tariffs or take other trade-related action.
The official said a key Section 301 probe involving 60 countries should be completed this week or next. Once all the ongoing investigations are finished, the US expects to make progress on trade agreements with India as well as other nations.
When asked about the timeline, the official said the agreement could be signed in another three to four months.
TARIFF ISSUES REMAIN IN FOCUS
The update comes as Washington has proposed tariffs of up to 12.5% on several countries, including India, over allegations that they failed to curb trade in goods produced using forced labour.
Separately, US President Donald Trump announced that generic medicines imported into the United States will remain exempt from tariffs for two years from August 1. After that, such imports will face tariffs of 100% for one year, followed by 200% thereafter.
The move could affect India's pharmaceutical industry, as the United States accounted for $9.7 billion, or nearly 38%, of India's $25.8 billion pharmaceutical exports in 2025.
A long-awaited trade agreement between India and the United States could finally be signed within the next three to four months. A senior US official has said that negotiations between the two countries are almost complete, with only a few procedural steps remaining before the deal can be finalised, reported The Economic Times.
Speaking on the sidelines of the ASEAN Foreign Ministers' meeting in Manila, the official said the agreement is effectively ready.
The official said the agreement was essentially ready, adding that the remaining delay was linked to ongoing US trade investigations rather than any unresolved issues between India and the United States.
SECTION 301 INVESTIGATIONS REMAIN THE FINAL HURDLE
According to the official, Washington first needs to complete its Section 301 trade investigations. The law allows the US government to investigate unfair trade practices and, if required, impose tariffs or take other trade-related action.
The official said a key Section 301 probe involving 60 countries should be completed this week or next. Once all the ongoing investigations are finished, the US expects to make progress on trade agreements with India as well as other nations.
When asked about the timeline, the official said the agreement could be signed in another three to four months.
TARIFF ISSUES REMAIN IN FOCUS
The update comes as Washington has proposed tariffs of up to 12.5% on several countries, including India, over allegations that they failed to curb trade in goods produced using forced labour.
Separately, US President Donald Trump announced that generic medicines imported into the United States will remain exempt from tariffs for two years from August 1. After that, such imports will face tariffs of 100% for one year, followed by 200% thereafter.
The move could affect India's pharmaceutical industry, as the United States accounted for $9.7 billion, or nearly 38%, of India's $25.8 billion pharmaceutical exports in 2025.
