India-US Near New Trade Deal as Trump Signals Tariff Rollback

• By Thetripurapost Desk, Washington
• Nov 11, 2025
• 17

US President Donald Trump on Monday said that India and the United States are close to finalising a new trade agreement, hinting at a gradual reduction of tariffs previously imposed on Indian goods.

Speaking at the Oval Office during the swearing-in ceremony of Sergio Gor, the new US Ambassador to India, Trump remarked, “They don’t love me now, but they will love me again. We’re getting a good deal.”

Trump clarified that the 50% tariffs on India—comprising a 25% reciprocal duty and an additional 25% penalty on Russian oil imports—were linked to India’s previous crude purchases from Moscow. He said, “Yes, we will reduce the tariffs. India has significantly lowered its Russian oil imports.”

Highlighting the strategic partnership, Trump described India as “one of the world’s oldest civilizations, the largest country, and the fastest-growing region.” He praised Prime Minister Narendra Modi and emphasized that Ambassador Gor would work to deepen economic, energy, and security ties under the Indo-Pacific framework.

On the Indian side, Commerce Minister Piyush Goyal confirmed that bilateral trade negotiations, launched in February 2025, are advancing steadily despite a few sensitive issues delaying the pact. The proposed agreement aims to boost trade volume from $191 billion to $500 billion by 2030.

Five negotiation rounds have been held so far, with the latest conducted virtually on October 23. Both nations have exchanged high-level visits and agreed to expedite talks, targeting a first-phase agreement by late 2025.

The US had earlier imposed economic sanctions on India to discourage energy transactions with Russia, citing concerns that such purchases indirectly funded the Ukraine conflict.