India-US Trade Deal: Joint Statement Likely Next Week, Last Minute Drafting Underway - EXCLUSIVE

India and the United States are likely to issue a joint statement on a bilateral trade deal as early as next week, with officials on both sides engaged in last-minute drafting, fine-tuning of language and finalisation of terms, sources familiar with the matter told Times Now. Earlier this week, India and the US agreed on a framework for a trade deal under which Washington will bring down tariffs on Indian goods to 18 per cent from the current 50 per cent. The announcement is important because the US has imposed a steep tariff on Indian goods entering American markets, effective August 27, 2025.According to sources, ministers from India and the US are expected to meet and speak in the coming days. The officials on both sides are engaged in giving

the final shape to the deal. After finalising the terms and references, the India-US trade deal will be signed.Sources further indicated that the proposed $500 billion worth of purchases from the United States would be spread over a five-year period, adding that when the "deal is signed, the details would make Indians feel protected, safe and proud."

Announcing the trade pact, US President Donald Trump said, India and the US agreed on a trade deal under which Washington will bring down tariffs on Indian goods to 18 per cent and India will move forward to reduce "tariffs and non tariff barriers" against the US to zero, adding New Delhi would buy American goods, including energy, worth more than USD 500 billion.Trump had spoken to Prime Minister Narendra Modi before making the deal announcement on Truth Social. "It was an Honor to speak with Prime Minister Modi, of India...We spoke about many things, including Trade...He agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela. This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!" the US President posted on social media."Out of friendship and respect for Prime Minister Modi and, as per his request, effective immediately, we agreed to a Trade Deal between the United States and India, whereby the United States will charge a reduced Reciprocal Tariff, lowering it from 25% to 18%," he said.Following the trade agreement announcement, PM Modi said he was delighted that "Made in India products will now have a reduced tariff of 18 per cent". He said it was wonderful to speak with his “dear friend" Trump."Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement,” PM Modi posted. The prime minister said when two large economies and the world's largest democracies work together, it benefits the people and "unlocks immense opportunities for mutually beneficial cooperation".