The "historic" India-US trade agreement is in the final stages of detailing that will be completed "very soon", External Affairs Minister S Jaishankar said on Thursday (February 5, 2026) after holding wide-ranging talks with U.S. Secretary of State Marco Rubio.
The talks between Mr. Jaishankar and Mr. Rubio in Washington DC came three days after U.S. President Donald Trump, following a phone conversation with Prime Minister Narendra Modi, announced reduction of U.S. tariffs on Indian goods to 18% from 50% under the trade deal.
The External Affairs Minister said the trade deal will open up a "new phase" in the relations.
India-U.S. trade deal: Joint statement in ‘four to five days’, legal agreement by mid-March, says Piyush Goyal
Except a confirmation on bringing down the U.S. tariffs, including the removal of a 25% levies imposed on India by Washington over Russian energy purchases, no concrete details of the trade deal have come out so far.
