India–US Trade Deal Talks Continue: Five Rounds Completed, Optimism Grows
Union Commerce Minister Piyush Goyal has said that discussions on a bilateral trade agreement between India and the United States are ongoing. So far, five rounds of negotiations have been completed. He emphasized that while much has been achieved, more progress is still needed.
Goyal also stated that India is pursuing new trade agreements with several other countries, including the European Union, Chile, Peru, New Zealand, Australia, and Oman.
India has already signed free trade agreements (FTAs) with Australia, the United Arab Emirates, Mauritius, the United Kingdom, and the European Free Trade Association (EFTA) comprising four European countries. He further noted that India–China relations are gradually moving toward normalcy, adding that as border issues get resolved, tensions will naturally ease.
Ongoing Talks with the US
The minister expressed confidence that India and the US will eventually resolve trade issues. He also clarified that India is not providing any financial assistance to Russia in the ongoing Russia–Ukraine war.
Negotiations for the India–US trade deal began in March, with five rounds completed so far. However, after the US imposed a 50% tariff on August 27, the American delegation postponed its scheduled visit to India for the next round of talks, which was originally planned for August 25. No new date has been set yet for the sixth round of negotiations.
Positive Signals from the US
Despite the delay, positive signals are emerging from the American side. US Treasury Secretary Scott Bessent expressed confidence that Washington and New Delhi can resolve their current trade-related challenges.
Speaking to Fox News, Bessent said: “I believe that ultimately, two great nations will find a solution to this problem.” He acknowledged that the slow progress in India–US trade talks is largely due to higher tariffs imposed by the US administration under President Donald Trump.
Bessent’s statement has raised fresh hopes for the progress of India–US trade negotiations.
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