US trade deal everyone’s been talking about. Commerce Minister Piyush Goyal dropped the latest yesterday in New Delhi (that’s February 5, 2026), and it sounds like things are moving really fast now. He said the first chunk of this bilateral trade agreement is basically ready, and they’re hoping to put out a joint statement with the US in just the next 4 to 5 days—could even happen sooner, he added, because they’ve been pushing hard and quick.
Once that joint statement drops, the US side—meaning President Trump—will slap an executive order to bring tariffs down on Indian stuff from a whopping 50% straight to 18%. That should happen pretty much right away, maybe within a couple days after the statement. For our exporters, especially in things like clothes, textiles, handicrafts, leather—that’s going to be a game-changer. Cheaper entry into the massive US market means more orders, more jobs back home.
But here’s the catch on our end: India can’t start cutting tariffs on American goods until the full legal agreement is actually signed. Goyal and Commerce Secretary Rajesh Agrawal explained that our duties follow MFN rules, so no changes without the proper signed paper. They’re aiming to get that formal deal wrapped up and signed by mid-March—roughly 30 to 45 days from now.
Goyal was clear about a few other things too. No new big investment promises from India in this deal—it’s more about us buying more from the US in areas we’ll need anyway, like energy (oil, gas), aircraft, tech chips, data center gear, and stuff for expanding our steel plants big time. He stressed that sensitive areas like agriculture and dairy? Totally safe—no compromises there. And on energy sourcing, decisions stay based on what’s secure and cheapest for us, even if we’re shifting more toward US suppliers.
This all kicked off after Trump announced the broad deal earlier this month post his chat with PM Modi, but details were fuzzy till now. The joint statement should clear up a lot and quiet some of the noise from the opposition too.
Exporters and businesses are super excited— that quick tariff drop could start bringing real benefits soon if the timeline holds. Fingers crossed we see that statement by the weekend or early next week. Things are heating up fast between India and the US on trade!
Sources:
The Hindu
Hindustan Times
Reuters
Times of India
Economic Times
India Today
