India-US Trade Deal: First Phase to be Signed by March 2026
India and the US will sign the first phase of a historic trade deal reducing US tariffs on Indian exports from 50% to 18% and opening a new chapter in bilateral relations
Feb 6, 2026 - The first phase of the India-US trade deal is expected to be signed by mid-March, shared Commerce and Industry Minister Piyush Goyal on Thursday (February 6). A joint statement may be issued within 4-5 days regarding the first tranche of a Bilateral Trade Agreement. Following this agreement, the United States will reduce tariff on Indian exports from 50% to 18% through an executive order by US President Donald Trump.
The Minister added that the process of reducing import duties will begin once the agreement is signed.
External Affairs Minister S Jaishankar described this as “the beginning of a new phase." He added that the historic India-US trade deal is in its final stage and will be completed very soon, opening a new chapter in bilateral relations.
Earlier, Jaishankar had mentioned on social media that he was not directly involved in the negotiations, as Commerce Minister Piyush Goyal is leading the process.
On the other hand, India will legally reduce tariffs on US imports only after the signing of the legal and formal agreement likely in mid-March, according to Goyal and Commerce Secretary Rajesh Agrawal.
With Media Inputs
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