- Tariff changes previously delayed the finalization of the pact.
India-US Trade Deal: US President Donald Trump has indicated that India and the United States are nearing a trade agreement after months of negotiations over tariffs and other terms. He also suggested that the proposed pact would differ significantly from previous trade arrangements concluded by Washington.
Trump Signals Progress On Trade Agreement
Speaking to reporters in the Oval Office on Tuesday, Trump expressed optimism about the negotiations, saying both countries were moving towards an agreement. “They want to make a deal. We’re going to make a deal. Pretty close, yeah,” Trump said in response to a question, as per reports.
The US president also indicated that the proposed agreement would follow a different approach from earlier deals negotiated by his administration. “It’s going to be a much different kind of deal than we’ve done,” he said, without providing further details about the terms under discussion.
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Rubio Says Only A Few Issues Remain
Trump’s remarks came as US Secretary of State Marco Rubio was visiting India for discussions aimed at strengthening bilateral ties. His visit covered cooperation in areas including trade, energy, technology, defence and people-to-people exchanges. Rubio had earlier said Washington was “trying to finalise a trade deal with India” and was “very close to doing that.”
On Tuesday, he reiterated that the negotiations were nearing completion, with only a limited number of issues yet to be resolved.
Rubio expressed hope that the remaining differences would be settled shortly, allowing the two sides to move towards a formal announcement. “And perhaps the leaders can sign it thereafter,” he added.
US Ambassador to India Sergio Gor had also indicated progress at the Bloomberg New Economy Forum in New Delhi recently. He said that “the big items are done” and that the two countries were close to “landing it”.
Piyush Goyal Holds Talks With US Trade Representative
The latest signals follow a series of discussions between officials from both countries to settle the outstanding terms of the proposed agreement. Earlier this month, Commerce Minister Piyush Goyal met US Trade Representative Jamieson Greer in Milwaukee and Washington to discuss the finer details of the pact.
Goyal subsequently said the first tranche of the India-US bilateral trade agreement (BTA) had been finalised and was undergoing legal drafting. The government is hoping to complete the process soon.
Tariff Changes Delayed Finalisation
India and the US announced in February that they had finalised the framework for the first phase of the bilateral trade agreement. However, changes to the US tariff landscape prompted further negotiations, delaying the completion of the pact.
New Delhi and Washington are continuing discussions to resolve the remaining differences. While statements from Trump, Rubio and Gor indicate progress, the agreement has yet to be formally executed, and the final terms remain to be confirmed.
