US-India trade deal nears completion

US Secretary of State Marco Rubio said on October 20, 2026 that a long-pending US-India trade deal is 'very, very close.' He said the two sides are 'about as close as you can be without having executed the agreement.'

US tariffs on Indian goods were cut from 50% to 18% in 2026. Industry stakeholders said the deal could be announced 'in a matter of weeks, not months.'