India nears deal to slash US tariffs on Indian imports to 15-16%, Mint reports

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• India nears deal to slash US tariffs on Indian imports to 15-16%, Mint reports</p>

<p>ReutersOctober 22, 2025 at 3:57 AM</p>

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<p>Indian Prime Minister Narendra Modi speaks during a joint press conference with U.S. President Donald Trump at the White House in Washington, D.C., U.S., February 13, 2025. REUTERS/Kevin Lamarque</p>

<p>(Reuters) -India and the United States are nearing a long-stalled trade agreement that would reduce U.S. tariffs on Indian imports to 15% to 16% from 50%, India's Mint reported on Wednesday citing three people aware of the matter.</p>

<p>The deal, which hinges on energy and agriculture, may see India gradually scale back its imports of Russian crude oil, Mint reported.</p>

<p>Reuters could not immediately verify the report.</p>

<p>U.S. President Donald Trump said he spoke with Indian Prime Minister Narendra Modi on Tuesday, largely focusing on trade.</p>

<p>Trump said energy was also part of their discussion, saying Modi assured him that India would limit its oil purchases from Russia.</p>

<p>As part of negotiations, India may allow increased imports of non-genetically modified U.S. corn and soymeal, Mint reported citing the sources. A deal may also include a mechanism to periodically review tariffs and market access, the outlet said.</p>

<p>Finalisation of a bilateral trade agreement is likely to be announced at the ASEAN Summit this month, Mint reported.</p>

<p>India's Ministry of Commerce and Industry and the White House did not immediately respond to Reuters' requests for comment.</p>

<p>(Reporting by Bipasha Dey in Bengaluru; Editing by Himani Sarkar and Christopher Cushing)</p>

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