Described as “father of all deals,” the new turn in India-US trade “deal” has gained substantial media coverage, political as well as diplomatic importance prior to it having been formally signed by both sides. What only seem clear are reports about a phone call between President Donald Trump and Prime Minister Narendra Modi, following which the former claimed on a social media post that India had agreed to stop buying Russian oil and that US would lower its tariff on Indian exports to 18% (Feb 3, 2026).  Modi confirmed the trade deal in a post on X. While the “deal” is certainly being talked about, hailed in certain circles and criticized in others, ambiguity prevails about what all has really been agreed to. 
Ironically, the joint statement issued by both sides begins with, “The United States of America (United States) and India are pleased to announce that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).” The agreement will probably be viewed as interim till it is formally inked by both sides. On the US side, the White House has released this statement (Feb 6). In India, this has been posted on the government press site by the Ministry of Commerce & Industry (Feb 7). Besides, they seem to have agreed only to a “framework,” the specific details of which may take some time to be formulated and agreed upon. 
As for now, the key interaction between the two sides has been the phone call between Trump and Modi followed by their respective posts on social media. One expects this to be followed by series of meetings between officials of both sides giving this trade deal a formal shape. As of now, greater attention is being accorded in both countries to making noise about what various sections can gain as well as lose from it, if and when it is finalized. Interestingly, there has been no comment from the Indian side on whether it is going to stop purchase of Russian oil as apparently desired by Trump. The joint statement does not refer to it. 
Besides, given that India is a sovereign, independent country, should it let its imports/exports be decided by United States? Till just a few days ago, when India and European Union (EU) had inked the “mother of all deals” and New Delhi-Beijing ties were expected to improve, these diplomatic moves were hailed as these powers having send a strong signal to superpower’s tariffs against them. In other words, they could move ahead by building stronger economic ties among themselves, without being compelled to be dependent on US. 
It may be noted, the “mother of all deals” was at least marked by extra-efforts made by India and EU to display their decision to forge strong ties. During EU leaders’ India-visit, the deal was reached, even though it will take some time before it is finalized and reaches the stage of being implemented. Nothing of such diplomatic show is visible with respect to the new turn apparently taken by India-US trade deal. The so-called trade-deal hit headlines as soon as Trump mentioned it on a social media post and Modi on X. They had a phone call too and so far, this is it. Nevertheless, substantial coverage by Indian media to old photos of Trump and Modi shaking hands, holding talks and so forth conveys a totally different picture. Apparently, the one that certain sections are keen to promote. And this raises the questions as to whether the so-called deal is more of a symbolic display? 
Paradoxically, little significance is being accorded to limitations of the new tariff-deal. Of these, given Trump’s diplomatic style, there is no knowing as to when he may backtrack on this stand. It may be remembered, India had (and still has) reservations about his claiming and taking credit for the ceasefire to India-Pakistan war. US appears to have fairly good ties with Pakistan. How would India respond, if it is pressurized by US to normalize ties with its permanent enemies? 
With respect to Russia, India always has had strong ties with it. It is not clear as to how and by when will India really stop totally buying Russian oil and instead, as claimed by Trump, purchase US and/or the Venezuelan oil. Elementarily speaking, though India has gradually reduced purchase of Russian oil, a substantial degree of its oil needs are still met by supply from Russia. These supplies may be expected to continue till agreements signed about them cease to be renewed. So far, as mentioned, no agreement has been inked between India and US regarding their new tariff deal. Practically speaking, some importance also needs to be given to the difference in geographical distance between India and Russia with that between India and US. In addition, the Indian refineries are not as prepared for US crude as they are for Russian. Simply speaking, however eager certain Indian leaders may be, complying with Trump’s demands regarding purchase of Russian oil is not as easy as turns and twists in US approach towards India seem to be. 
Equally complicated is Trump’s desire (or demand) that India’s imports from US should be worth $500 billion over a period of five years. Is this possible? Not in the near future. This demands more than 500% increase in import of goods and services from US. And where does this place the apparent electoral importance given by certain leaders here to boycott American goods when Trump initiated tariff-war against India? And what about repeated emphasis laid on “Made in India” goods for this country’s development? Now, Modi has committed himself to “Buy American,” according to White House Press Secretary Karoline Leavitt. 
It seems, at present, both Trump and Modi are probably giving more importance to media coverage that this tariff-turn is being given. Their immediate priority is to probably publicize the advantages that this “deal” spells for their respective countries. Against the backdrop of Trump’s tariff-war having led to an anti-American attitude in India, chances of Indian public easily accepting the credibility of this new trade-deal seem quite limited. Well, it is as yet too early to deliberate on whether the new tariff-deal will really ever start yielding results or it seems nothing more than just a mirage. The opening sentence of their joint statement describing it as an “interim agreement” may gain or lose importance in due course of time!