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Date: 21-apr-2025 | By: Nuztrend Team
India is aiming to finalize the first phase of a new trade agreement with the United States by autumn 2025, as confirmed by Finance Minister Nirmala Sitharaman. The negotiations come amid growing concern over potential U.S. tariff hikes and the need to reinforce bilateral economic ties.
During her current five-day visit to the United States, Sitharaman will attend the IMF and World Bank spring meetings, alongside the G20 finance ministers’ summit. She is also scheduled to meet with U.S. Treasury Secretary Scott Bessent and officials from the U.S. Trade Representative’s office to advance trade negotiations.
The visit aligns with a broader effort to finalize trade discussions before the expiration of a 90-day tariff pause announced by President Donald Trump earlier this year. The temporary suspension applies to key trade partners including India, and pressure is mounting to reach a formal agreement before that window closes.
India has expressed willingness to reduce tariffs on over half of the $41.8 billion worth of U.S. goods it imported in 2024. The concessions are expected to cover sectors like technology, energy, and agriculture — all key to balancing the growing trade relationship between the two nations.
In a show of mutual commitment, U.S. Vice President JD Vance is currently visiting India and is expected to meet with Prime Minister Narendra Modi to review bilateral progress. In parallel, India’s chief trade negotiator Rajesh Agrawal is preparing for an additional visit to the U.S. for deeper dialogue on tariff structures and market access.
In 2024, India-U.S. bilateral trade reached $129 billion, with India maintaining a $45.7 billion trade surplus. Both sides view the upcoming deal as a step toward resolving long-standing trade barriers and setting the stage for a broader free trade pact in the years ahead.
As global markets shift and protectionist policies re-emerge, the India-U.S. trade partnership remains a critical piece of economic strategy for both nations — one that could shape investment flows, supply chains, and strategic alliances well into the next decade.
Source: Reuters
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