US President Donald Trump’s new set of tariffs is set to take effect today, April 2, with official details to be announced later in the day. The White House has confirmed that the tariffs will be implemented immediately, marking a significant shift in trade policies under the 47th president.

Meanwhile, India has secured a last-minute trade deal with the United States before the tariffs come into force, as per an Indian Express report. The agreement, finalized following an urgent intervention from the Prime Minister’s Office (PMO), outlines the Terms of Reference for the Bilateral Trade Agreement.

Negotiations for this deal have been underway for some time, with reports suggesting that both sides explored multiple possibilities before reaching common ground. While details of the agreement remain undisclosed, it is expected to have far-reaching implications on bilateral trade, economic policies, and business landscapes in both countries.

Speaking in an interview, Donald Trump reiterated his push for reciprocal tariffs, expressing hope that India would reduce its trade barriers. However, he hinted that the deadline for adjustments remains open, leaving room for further negotiations.

The US has reportedly been pushing for near-zero tariffs on key sectors, with dairy, communications (internet), and agriculture among the areas of discussion. India, on the other hand, has been balancing strategic interests while navigating negotiations with the world’s largest economy.