Rubio says US "trying to finalise a trade deal" with India

Last month, Secretary of State Marco Rubio discussed the ongoing US-India trade talks, which are proceeding through a February first-phase framework. That plan had the US promising to remove an extra 25% tariff tied to India’s Russian oil purchases and cut a reciprocal duty to 18%. The Supreme Court later struck down reciprocal tariffs under IEEPA, and Washington imposed a new 10% duty on Indian goods after a Section 301 investigation into alleged forced labor, also affecting 16 other countries. The US is India’s largest export market; Indian exports there rose 11% year on year to $50.8 billion in the first half of FY27, while imports increased 26% to $32.3 billion. Experts said Democratic control of Congress could constrain tariff policy, but the trade agreement itself was seen as unlikely to change.