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Trump to remove 25% punitive tariff on India, US official says India will buy oil from US and potentially Venezuela Modi says India grateful for new 18% tariff rate. "They will likewise move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO," Trump said of India.
India has been very active on trade deals. These used to take years, but now are coming through quickly.
Trade deals done in 2025: United Kingdom (CETA), Oman (CEPA), New Zealand (FTA), the EFTA bloc (Switzerland, Norway, Iceland, Liechtenstein; TEPA signed in 2024, effective in 2025)
Trade deals signed/pending: Chile, EU ("mother of all deals", 01/27/26*), Eurasian Economic Union (EAEU - Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan), Kyrgyzstan, Mercosur block (South America - Argentina, Bolivia, Brazil, Paraguay, Uruguay, etc), Mexico, US (2/2/26*)
The new US Ambassador GOR in India has delivered within days on a mutually beneficial & sensible India-US trade deal with US tariffs reduced to 18% as trade negotiations continue (basic 25% -->18%, penalty 25%-->0%).
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Trade deals done in 2025: United Kingdom (CETA), Oman (CEPA), New Zealand (FTA), the EFTA bloc (Switzerland, Norway, Iceland, Liechtenstein; TEPA signed in 2024, effective in 2025)
Trade deals signed/pending: Chile, EU ("mother of all deals", 01/27/26*), Eurasian Economic Union (EAEU - Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan), Kyrgyzstan, Mercosur block (South America - Argentina, Bolivia, Brazil, Paraguay, Uruguay, etc), Mexico, US (2/2/26*)
The new US Ambassador GOR in India has delivered within days on a mutually beneficial & sensible India-US trade deal with US tariffs reduced to 18% as trade negotiations continue (basic 25% -->18%, penalty 25%-->0%).
*Still need ratification.