Back to today’s briefing

Story perspectives

Trump, Modi Near Trade Deal to Slash Tariffs

10/23/2025

46 8 Full Breakdown

Summary

Story summary

U.S. President Donald Trump and Narendra Modi, Prime Minister of India, near a trade agreement that could cut tariffs on Indian exports from 50% to about 15–16%, per Mint.
The talks could be finalized during the ASEAN summit in Malaysia from October 26 to 28 and include India's gradual reduction of Russian oil imports.
The agreement would expand access for U.S. agricultural products, including non-genetically modified corn and soymeal.

History

Historical Context

In 2019, the U.S. and India engaged in trade negotiations to reduce tariffs on Indian exports from 50% to around 15-16%. This dialogue reflects India's 1991 economic liberalization, which opened its markets to foreign goods. The outcome of these negotiations could significantly reshape U.S.-India relations and impact global agricultural markets, particularly for American agricultural products.

1 of 2

Story summary

U.S. President Donald Trump and Narendra Modi, Prime Minister of India, near a trade agreement that could cut tariffs on Indian exports from 50% to about 15–16%, per Mint.
The talks could be finalized during the ASEAN summit in Malaysia from October 26 to 28 and include India's gradual reduction of Russian oil imports.
The agreement would expand access for U.S. agricultural products, including non-genetically modified corn and soymeal.

1 / 2