India, U.S. agree on trade pact steps: government.

• India and the U.S. have agreed on next steps towards a bilateral trade agreement (BTA).

• The Commerce Department reports that sectoral expert level engagements will begin virtually in the coming weeks.

• Despite four days of negotiations, no clarity has emerged on whether the U.S. will impose reciprocal tariffs on Indian products or grant it a reprieve.

• The goal is to finalize the first tranche of the BTA by fall 2025.

• Commerce Secretary Howard Lutnick emphasized the need for all items, including agricultural products, to be on the negotiation table for market opening and flexible strategies.

• India had hoped to avoid facing reciprocal tariffs, but the Commerce Ministry statement does not mention them.