Tariffs are subject to change, upward or downward, depending on our country’s relationship with yours,' says Trump in the new letters that were sent to the respective countries last night.

Donald Trump announced the US is nearing a trade agreement with India, alongside deals with the UK and China. Tariff letters, outlining reciprocal rates effective August 1, 2025, were issued to various trading partners.

Union Minister Piyush Goyal recently stated that India is prepared to engage in trade agreements with the US if it aligns with national interests. However, he emphasised that such deals would not be rushed due to external deadlines. India's stance remains firm on protecting its agricultural sector from foreign competition.