India and the US announced a framework for an Interim Agreement on reciprocal trade on 6–7 February 2026, as a step toward a broader Bilateral Trade Agreement. As of late September 2026 the interim agreement has not been signed; India's External Affairs Minister said on 29 September 2026 that the deal is 'very, very far advanced' but depends on the ongoing US Section 301 process. There is no preferential US tariff for Indian goods yet.