US says interim trade deal with India is almost complete after Manila meeting

The United States and India said an interim trade deal is close to completion after a meeting between Secretary of State Marco Rubio and External Affairs Minister S. Jaishankar in Manila. The talks took place on the sidelines of ASEAN and East Asia meetings, bringing the two ministers together as both sides continue work on a broader strategic agenda.

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Officials said the discussion also covered defence, energy, critical minerals and artificial intelligence. US officials said the interim trade deal is "almost complete", while the State Department said the ministers discussed recent developments in the Middle East and the Indo-Pacific. A spokesperson said they also discussed finalising key defence agreements linked to commitments made by President Donald Trump and Prime Minister Narendra Modi last year.

Jaishankar said the meeting focused on priorities for the Comprehensive Global Strategic Partnership, including trade and tariffs, energy, defence and security, critical minerals and artificial intelligence. The meeting comes at a time when trade and industrial policy remain central to the relationship between Washington and New Delhi. The US is India's largest export market in several sectors, and the two governments have been trying to narrow differences on tariffs and market access while also expanding cooperation in strategic technologies and defence.

The officials' comments suggest that the interim trade track is moving in parallel with wider talks on security and supply chains. The timing is also notable because the US president on Wednesday announced plans affecting imported generic medicines, a sector in which India is a major supplier to the American market. That announcement could have implications for Indian exporters, even as both governments signal progress on the broader trade file.

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The Manila meeting therefore sits at the intersection of commercial negotiations and wider geopolitical coordination. The bilateral relationship has increasingly combined economic, defence and technology issues, with critical minerals and artificial intelligence now part of the agenda alongside more traditional trade concerns. US Ambassador to India Sergio Gor said the meeting was productive and suggested Rubio could return to India later this year.

That would add another high-level contact to a relationship that both sides have described as strategically important. What remains unclear is the exact content of the interim trade deal and when it may be formally announced. It is also not yet clear which defence agreements are being finalised or whether the reported visit by Rubio to India will go ahead.

For now, the main confirmed development is that both governments say the trade package is close, while broader talks continue on security, energy and technology.

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