Washington: A long-anticipated trade deal between India and the United States may be on the verge of materialising, with both sides reportedly close to ironing out key details that could reshape bilateral economic ties.

India had moved the World Trade Organisation (WTO) when the Trump administration reimposed a 25 per cent sectoral duty on these items in March, claiming that the US move amounted to a safeguard duty

Earlier this month, Trump threatened Mattel with a 100% tariff on all its toy imports after Mattel CEO Ynon Kreiz said the company would have to consider raising some toy prices due to tariffs and that it wouldn’t shift toy production to the United States, as that would be more expensive than paying the tariffs.

Despite being the world’s most populous nation, the fourth-largest economy, and a nuclear power, India finds itself in a tricky position when engaging with a leader like Trump, who pressures allies with tariffs and threats,

The U.S. Court of International Trade and others argue the authority to impose tariffs lies with Congress, rendering the tariffs imposed by President Donald Trump on April 2 illegal.

GTRI advises India to address Trump's new steel and aluminium tariffs within the ongoing FTA talks with the US. This approach aims to persuade the US

The Trump administration has asked its trade partners to submit their best offers by Wednesday, in order to finalise deals before July 8. On April 9, President Donald Trump paused his sweeping "Liberation Day" tariffs for 90 days after a market backlash.

India and the US are actively working on a bilateral trade agreement targeting a doubling of trade to USD 500 billion by 2030. While Trump has proposed increasing tariffs on steel and aluminium, India seeks resolutions through negotiations.