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India-US Very Close To Trade Deal, Says Trump Official
US Deputy Secretary of State Christopher Landau said India and the US are very close to signing a bilateral trade deal and must clear the last hurdle. This follows earlier steps including a February framework and text release, and a February Supreme Court ruling affecting tariffs. Indian negotiators were in the US in April, with a target of $500 billion in bilateral trade by 2030 mentioned.
Why It Matters
The timeline shows ongoing, high-stakes negotiations that could reshape tariffs and trade between the two large economies, with a stated goal of substantial bilateral trade by 2030 and sensitivity to regulatory changes following the Supreme Court ruling.
Timeline
5 Events
US official says India-US trade deal is very close to signing
May 5, 2026
US Deputy Secretary of State Christopher Landau stated that India and the US are 'very, very close' to signing the trade deal but must clear the last hurdle. He emphasized closure and highlighted India’s growing economic potential and the broader agenda.
Indian negotiators in the United States for discussions
April 2026
Indian negotiators were in the United States in April 2026 for discussions on the trade agreement.
US Supreme Court rules against Trump's reciprocal tariffs under IEEPA
February 20, 2026
The US Supreme Court ruled against reciprocal tariffs imposed under the 1977 International Emergency Economic Powers Act (IEEPA). In response, India began recalibrating and redrafting the agreement to protect its interests under the new global tariff framework.
Text of the trade deal released
February 7, 2026
The full text of the bilateral trade agreement was released.
Framework for India-US bilateral trade deal announced
February 2, 2026
The United States and India announced the framework for a bilateral trade agreement. The framework included a plan to reduce tariffs on Indian goods to 18% from 50%, and indicated preferential access for India as part of the deal. It also noted that the US had removed 25% tariffs on Indian goods for buying Russian oil and that the remaining 25% tariff was to be cut to 18% under the pact.