India Says US Deal on Tariffs Is Close to Being Concluded (2)

India said it’s close to finalizing the first phase of a trade deal with the US, which would cover tariffs, after months of negotiations to lower the 50% levies.

The two sides are working on an accord to be implemented in multiple tranches, with the first phase addressing reciprocal tariffs, Commerce Secretary Rajesh Agrawal told reporters in New Delhi on Monday.

“India is engaged with the US trade team on a regular basis,” Agrawal, who is also New Delhi’s chief negotiator in the talks, said. The first phase of the deal, which will focus on reciprocal tariffs, is “more or ...