The India–US Bilateral Trade Agreement (BTA) appears to be approaching completion, with both sides indicating significant progress. In an interview with CNBC, White House economic adviser Kevin Hassett said the trade and tariff pact is “close to the finish line,” expressing optimism despite the complexities involved.
Hassett noted that negotiations had become “pretty complicated” due to India’s engagements with Russia and other overlapping geopolitical issues. However, he stressed that Washington and New Delhi remain “good friends” and are working toward a mutually acceptable outcome.
Meanwhile, PTI quoted an Indian government official confirming that the first phase of the proposed BTA is nearly finalised. The initial package will primarily address the steep retaliatory tariffs imposed by the Donald Trump administration on Indian products.
According to the official, the opening tranche aims to resolve the 50% duties levied by the US—comprising a 25% reciprocal tariff and an additional 25% penalty linked to India’s purchase of Russian crude oil. The developing agreement is expected to ease trade tensions and re-establish smoother economic engagement between the two nations.
