India Optimistic About Reaching Tariff Agreement with US Amid Looming Reciprocal Tariffs

India's Ministry of External Affairs spokesperson Randhir Jaiswal expressed hope that India and the US would reach an understanding on the tariff issue. This comes as US President Donald Trump announced reciprocal tariffs on India, set to take effect on April 2, 2025. India is actively preparing revised tariff reduction proposals for upcoming bilateral trade negotiations, aiming to finalize a Bilateral Trade Agreement (BTA) by fall 2025. The proposed BTA seeks to strengthen two-way trade, increase market access, reduce tariff and non-tariff barriers, and deepen supply chain integration. Commerce Minister Piyush Goyal's recent US visit was part of ongoing efforts to advance discussions on this multi-sector trade pact.

Source: Ministry of External Affairs