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US-India Trade Deal Could Be Signed in 3-4 Months, US Official Says
Officials said the deal is virtually complete and could be signed in three to four months once U.S. Section 301 probes end.
On Wednesday, U.S. Secretary of State Marco Rubio and Indian External Affairs Minister S. Jaishankar met in Manila during the ASEAN Foreign Ministers' Meeting and agreed on finalizing the "almost complete" interim trade deal between the two countries.
The remaining delay stems from ongoing U.S. trade investigations rather than unresolved bilateral issues, with one Section 301 probe covering 60 countries expected to conclude this week or next, according to a senior U.S. official.
President Donald Trump announced on Tuesday that generic drugs would remain tariff-free for two years from August 1 before facing 100% tariffs for one year and 200% thereafter, affecting India's $9.7 billion pharmaceutical exports to the U.S., nearly 38% of its $25.8 billion total.
Once U.S. trade investigations conclude, "we'll start seeing progress, not just in India but in other places," the official said, with the agreement potentially signed within three to four months.
The Quad—comprising the U.S., India, Australia and Japan—continues advancing Indo-Pacific security and economic cooperation, with Jaishankar attending the Quad Foreign Ministers Meeting in Manila to review regional developments and commit to a free and open Indo-Pacific with ASEAN recognition.