US trade deal in final stages: EAM

Washington: 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 after holding wide-ranging talks with US Secretary of State Marco Rubio in Washington.

The talks between Jaishankar and Rubio came three days after US President Donald Trump, following a phone conversation with Prime Minister Narendra Modi, announced reduction of US 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 US 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.

Jaishankar, in a social media post, described his visit to the US 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. "Our critical mineral cooperation is also advancing rapidly. Expect engagement on strategic issues, defence and energy in the coming days. Overall, a strong momentum is evident," he said.