India-US Trade Deal Likely Before July 24, Says Commerce Secretary
India and the United States are likely to conclude their proposed trade agreement before July 24, when the temporary 10 per cent additional global tariffs imposed by the US are set to expire, according to Rajesh Agrawal, Commerce Secretary, Govt. of India.
Speaking at an industry event, Agrawal said negotiations between the two countries are progressing continuously and efforts are underway to finalise the agreement at the earliest.
The current tariff structure was introduced by the US under Section 122 of the Trade Act of 1974, following a US Supreme Court ruling that struck down reciprocal tariffs imposed on several countries. These temporary tariffs can remain in force for a maximum of 150 days, making July 24 a key deadline for ongoing negotiations.
The change in the US tariff framework had briefly delayed discussions, as the earlier trade arrangement was based on reciprocal tariff provisions that are no longer applicable. India is now seeking an agreement that secures a competitive tariff advantage for its exports over rival nations.
Trade talks are expected to intensify in the coming weeks. An Indian delegation visited the US last month for discussions, while a team led by Jamieson Greer is expected to visit India next month to take negotiations forward. The visit was confirmed by Marco Rubio.
Meanwhile, Agrawal also announced that India’s Comprehensive Economic Partnership Agreement (CEPA) with Oman will come into effect from June 1, following its signing in December last year.
He further stated that the free trade agreement with New Zealand, signed in April, is expected to become operational by October-November, while legal finalisation of the proposed trade pact with the European Union is currently underway.
According to the Commerce Secretary, the India-EU agreement is expected to be signed before the end of 2026 and could become operational before the close of the current financial year in March 2027.
