Bessent: US, India Near Agreement to Lower Tariffs

Negotiations continue in Washington as both sides work to prevent reciprocal tariffs from rising to 27 percent after a 90-day pause expires July 9.

Treasury Secretary Scott Bessent testifies before the House Ways and Means Committee on Capitol Hill in Washington on June 11, 2025. Madalina Vasiliu/The Epoch Times

The United States and India are “very close” to a trade agreement, Treasury Secretary Scott Bessent said on July 1.

In a July 1 interview with Fox News, he said the pending deal is aimed at lowering tariffs and preventing a sharp increase in reciprocal tariffs scheduled for July 9.