India and US Approach Historic Trade Deal to Reduce Tariffs by 35%: What You Need to Know

Oct 22, 2025 12:31 pm CST

India and the United States are finalizing a significant trade agreement that would reduce US tariffs on Indian imports from 50% to 15-16%, while potentially decreasing India's Russian oil imports. The deal focuses on energy and agriculture sectors, with provisions for non-GMO US corn and soymeal imports. An announcement is expected at the upcoming ASEAN Summit following recent discussions between Prime Minister Modi and President Trump.