With just two days remaining before President Donald Trump’s reciprocal tariffs on India take effect, both nations have agreed to finalize the first tranche of a bilateral trade deal by fall 2025. Despite ongoing negotiations, there has been no indication of tariff exemptions for India.
The agreement aims to strengthen economic ties by addressing market access, reducing tariff and non-tariff barriers, and deepening supply chain integration. Leaders have also launched "Mission 500," targeting a two-way trade increase to $500 billion by 2030. However, uncertainty remains regarding the extent of tariff increases India will face until the deal is concluded.