Key Points

1. Commerce Secretary Rajesh Agrawal stated a preliminary trade deal with the U.S. is 'very near'.
2. Negotiations between India and the U.S. have not broken down and are ongoing.
3. A U.S. negotiation team, led by Deputy USTR Rick Switzer, visited India in December 2025.
4. India's merchandise exports to the U.S. reached a five-month high of $7.01 billion in December 2025.
5. Exports in December 2025 increased from $6.89 billion in December 2024.
6. A virtual meeting occurred between the Commerce Minister and the U.S. Trade Representative (USTR) in the last week of December 2025.
7. Rajesh Agrawal mentioned that high tariffs exist but Indian industries are showing resilience.