<h1>Two countries aim to conclude first tranche of bilateral trade pact by November 2025 despite one government's shutdown</h1> Two countries are in continuous, multilevel negotiations on a bilateral trade agreement with a target to conclude a first tranche by November 2025; officials say the deadline remains possible despite the other country's current government shutdown, which may affect the timing, venue and modality of further talks. Prior rounds have been constructive and a delegation-led meeting reviewed outstanding issues, including retaliatory reciprocal and penalty tariffs totaling 50% on goods from one country after energy-related disputes. The proposed pact aims to boost bilateral trade to USD 500 billion by 2030 and follows leaders' directive to negotiate a mutually beneficial agreement.