Washington imposed a 50% tariff on most Indian goods in August, half of which is a penalty for purchase of Russian oil. (Image: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The first tranche of the India-United States bilateral trade deal is near closure, government sources told NDTV Profit on Monday.

"The trade deal has two parts, one part will take its own time, other part is the first tranche which can address all kinds of tariffs. We remain engaged, the discussions are on and part of agreement that covers reciprocal tariffs should happen sooner rather than later," an official said. The source declined to place a deadline for the agreement.

The two countries have publicly announced their intent to sign a deal by the end of this year.

Washington impo

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