India-US Trade Deal: After the announcement of the big trade deal between India and America, now both the countries are preparing a joint statement, which will have the complete outline of this agreement. This joint statement may be issued in the next four to five days or even earlier. Two days later, an executive order is expected from America, under which the tariff on Indian goods will be reduced from 50 percent to 18 percent.

This information was given by Union Commerce Minister Piyush Goyal and Commerce Secretary Rajesh Aggarwal. He told that this is the same high-profile trade deal, which was announced by US President Donald Trump this week. Negotiations on this agreement were going on for about a year. Piyush Goyal also said that this deal can be formally signed by mid-March.

Joint statement will come in four-five days

Speaking to reporters after a joint press conference with Gulf Cooperation Council (GCC) officials in New Delhi, Piyush Goyal said, “Very good talks are going on between India and the US as decided by both our leaders. The first tranche of our Bilateral Trade Agreement (BTA) is almost ready. We hope that in the next four to five days or before, a joint statement will be issued between India and the US and based on that the further process will begin.”

He told that after this joint statement, America can reduce the 25 percent reciprocal tariff and 25 percent penalty tariff (for buying oil from Russia) imposed on India i.e. the total 50 percent tariff to 18 percent. After this, a formal draft agreement will be prepared, which is expected to be signed between New Delhi and Washington in mid-March.

New tariff will be implemented by executive order

Piyush Goyal said that the new tariff of 18 percent will be implemented after the executive order of America. He told that this executive order can come about two days after the joint statement is issued. The minister said, “The joint statement may come in four to five days, or even before that. We have kept this entire process very fast.”

These sectors will get direct benefits

This decision will immediately benefit India’s labour-intensive exports worth more than $30 billion. This includes textiles, readymade garments, leather products, footwear, marine products and goods related to Micro, Small and Medium Enterprises (MSME). People having knowledge of this matter said that due to reduction in tariff, sales of these sectors in America will increase.

Rajesh Aggarwal told the further process

Commerce Secretary Rajesh Agarwal also said in the press conference that coming out with a joint statement is a normal process. He said, “Once the deal is finalized at the level of leaders, then a joint statement is issued. As Minister Piyush Goyal said, it may come in the next four to five days or even earlier.”

He further said that after the joint statement, it will be converted into a legal agreement and the same agreement will come into force. Aggarwal said that its timeline is mid-March. He made it clear that the tariff reduction from India’s side will happen only when the legal agreement is signed because the tariffs in India are under the MFN system. Whereas in America, tariffs are imposed through executive order, hence the decision on reduction can be taken earlier there.

India and America have now reached the lowest level of several decades. India does not seem to get relief from the tariff imposed by US President Donald Trump. According to sources, on Saturday (August 16, 2025), India suffered a major setback when the US postponed the sixth round of the proposed bilateral trade agreement. This meeting was to be held in Delhi from 25 to 29 August. An American official said that the visit would probably be rescheduled later.

Sixth round postponed, shock to India
So far, five rounds of talks have been held between India and America regarding the trade deal. The sixth round of meeting was considered important, but due to its postponement, difficulties have increased for India. This delay will directly affect the tariff as the additional 25 percent penalty tariff i.e. 50 percent fees imposed by the US are going to be implemented from August 27.

American pressure on agriculture and dairy
The US wants it to get more markets in India’s agriculture and dairy sector. But India has made it clear that the interests of farmers will not be compromised. India is an agricultural country and if the American market interferes with the Indian agriculture sector, it will have a big impact on the farmers and the economy.

Future of trade
India and America have been a long time trade partner. The two countries have targeted that the first phase of bilateral trade deal will be completed by September-October 2025. Also, the plan is to increase bilateral trade by $ 500 billion by 2030. Currently, about $ 191 billion is being traded between the two countries.

Tariff’s effect
The US has imposed 25 percent tariff on India since August 7. Apart from this, due to purchasing crude oil and military equipment from Russia, an additional 25 percent punitive tariff has also been imposed on India, which will be applicable from August 27. This will affect both India’s exports and imports.

Indo-US business figures
According to the latest Commerce Ministry data, India’s exports to the US rose by 21.64% to $ 33.53 billion between April-July 2025. At the same time, imports from the US rose 12.33% to $ 17.41 billion during this period. During this period, America remained India’s largest trading partner.

Harry kumar: American President Donald Trump has nominated Indian-American Harry Kumar as the new Assistant Secretary in the Department of Commerce (Department of Commerce). According to the official website of the US Congress, he was nominated on 10 March 2025. This nomination is part of several appointments submitted to the Congress, in which Kumar will replace semolina failure. If his nomination is approved, he will help in making important decisions related to the country’s economy, trade and development in the US Ministry of Commerce.

Harry Kumar is currently working as a senior advisor in the US Commerce Minister’s office. They give strategic advice on important matters that promote economic policy, trade agreements and business development.

Know who is Harry Kumar

According to the report of India Today, Harry Kumar is a resident of Texas’s Beomont, he was born here. His parents Dr. NAT and Dr. Saku Kumar brought him up in an environment where studies were given priority. Harry Kumar obtained a bachelor’s degree in Political Science from Texas A&M University and then completed the law degree from Texas Tech University School of Law.

After completing his studies, he started his career as a legislative lawyer for American representative Randy Weber in Capital Hill. He then served as a policy advisor of American Senator Marco Rubio at Washington DC.

Senate committee will review nomination

Apart from his tenure in the Senate, Harry Kumar has also been the director of government relations in the Li-cycle. This company specializes in recycling of batteries and important minerals. Currently, his nomination is being reviewed by the Committee on Commerce, Science and Transport Affairs of the US Senate. His name has been included in the Executive Calendar of the Senate and now further confirmation is being awaited.