The White House is “close” to reaching a tariff agreement with Japan and India, but finalizing the deal may take several months.

BlockBeats News, April 23rd, the White House is set to reach a comprehensive agreement with Japan and India to avoid large-scale tariffs by the United States, but they may leave many tricky details for later discussion. In the absence of a comprehensive trade agreement, government officials are working to sign a so-called "memorandum of understanding" or a broad "framework" for future agreement.

One insider said, "Finalizing the agreement may take several months as these matters are very complicated." It is currently unclear to what extent announcing the future agreement framework will appease the market and avoid a political backlash against ongoing economic turmoil.

Another source said, "I wouldn't even call them agreements, basically, (it's) an agreement to agree that we hope to discuss an agreement. They will start rolling out a bunch of stuff, but as long as something is signed to kick off negotiation." (FX Street)