India-US Trade Talks Reach Critical Stage – Nirmala Sitharaman
India and the United States are continuing negotiations on a bilateral trade agreement, but Finance Minister Nirmala Sitharaman has cautioned that talks have reached a difficult stage where further compromises may be increasingly hard to achieve.
India-US Trade Talks Reach Negotiation Plateau
Speaking at the Munich Leaders Meeting in New Delhi, Sitharaman said the proposed agreement had been negotiated rigorously and both sides had now reached what she described as a “plateau”.
She stressed that negotiations were still ongoing and the agreement had not been finalised.
The remarks suggest that while much of the negotiating framework has been developed, important disagreements remain before the two countries can announce a final deal.
Tariffs and Trade Balance Remain Key Issues
Sitharaman acknowledged that the bilateral trade balance currently favours India, an issue Washington has repeatedly sought to address through tariff and market-access negotiations.
She argued that trade discrepancies should preferably be addressed through negotiations rather than punitive tariff measures.
Recent changes in US tariff policy, including measures linked to India’s purchases of Russian oil, have complicated negotiations and reduced the space available for further concessions.
Piyush Goyal, USTR Continue Trade Discussions
Commerce and Industry Minister Piyush Goyal recently met US Trade Representative Jamieson Greer during the G20 Trade Ministerial in Milwaukee.
Both sides have described their discussions as constructive, while Greer has separately indicated that an agreement is not imminent despite progress on several issues.
India and the US are seeking both an interim arrangement and a broader Bilateral Trade Agreement covering tariffs, market access and other trade barriers.
