New Delhi Nov 17 (PTI) The first phase of the proposed bilateral trade agreement is nearing closure, a government official said on Monday.

This part of the pact would address both the 25 per cent reciprocal tariffs and the 25 per cent oil tariffs on India, the official said.

As part of addressing reciprocal tariffs imposed on India and USA's market access issues, a package is nearing closure and on that "we should get a closure soon", the official added. PTI RR HVA

Reciprocal tariffs addressed as first phase of India US trade deal nears closure, including oil tariff and market access package. First phase of a bilateral India-US trade agreement is nearing closure, focused on resolving reciprocal tariffs and oil-specific duties through a negotiated package that addresses mutual tariff measures and US market access concerns, with officials indicating imminent finalisation of this tariff-focused phase.