India-U.S. trade deal in final stages, it will open up new phase in ties, says Jaishankar

India-U.S. trade deal nearing completion, promising a new phase in relations, says External Affairs Minister Jaishankar.

The "historic" India-US trade agreement is in the final stages of detailing that will be completed "very soon", External Affairs Minister S Jaishankar said on Thursday (February 5, 2026) after holding wide-ranging talks with U.S. Secretary of State Marco Rubio.

The talks between Mr. Jaishankar and Mr. Rubio in Washington DC came three days after U.S. President Donald Trump, following a phone conversation with Prime Minister Narendra Modi, announced reduction of U.S. tariffs on Indian goods to 18% from 50% under the trade deal.

The External Affairs Minister said the trade deal will open up a "new phase" in the relations.

Except a confirmation on bringing down the U.S. tariffs, including the removal of a 25% levies imposed on India by Washington over Russian energy purchases, no concrete details of the trade deal have come out so far.

Mr. Jaishankar, in a social media post, described his visit to the U.S. as "productive" and "positive".

"The historic India-US trade deal is in the final stages of detailing that will be completed very soon. It opens up a new phase in our bilateral ties, with vast possibilities for the relationship," he said.