Jaishankar Hints at Imminent India-US Trade Deal
External Affairs Minister S. Jaishankar has signalled that an announcement on the much-anticipated India-US trade deal could be made in the coming days. Speaking during an event in New York, Jaishankar remarked, “And I think we’ll have to watch this space for the next few days,” suggesting that both sides are in the final stages of negotiations.
He explained the complexity of the ongoing discussions, stating, “You are really looking at thousands of lines and doing very intricate trade‑offs.” He added that for a successful outcome, “a kind of meeting ground” must be found between both nations. While optimism remains, Jaishankar cautioned that “it’s not done till it’s done.”
Trade Deal in Final Phase
Talks are now at a critical juncture, with a July 9 deadline looming before reciprocal tariff hikes kick in. Indian and US teams are working intensively to finalise an “early harvest” deal. The agreement is expected to focus on reducing duties across a range of industrial and consumer goods, while leaving politically sensitive sectors like agriculture, dairy, and wheat untouched.
India, for its part, is also working to reduce the trade surplus with the US by increasing imports of American natural gas and energy products. The current imbalance stands at over USD 41 billion, prompting both sides to look at longer-term structural adjustments.
Strong Trump-Modi Dynamic Boosts Confidence
The strong personal equation between Prime Minister Narendra Modi and President Donald Trump is seen as a key enabler of the deal’s progress. The White House has described India as a “very strategic ally,” with officials confirming that the trade team is putting final touches to the agreement. An announcement from the President and his team is expected soon.
President Trump is reportedly keen to remove several trade barriers, though he has acknowledged that not all obstacles may be cleared immediately. Still, the current deal is viewed as a major breakthrough in bilateral economic ties.
Strategic Significance and Broader Agenda
Jaishankar also highlighted the broader context of the India-US partnership, which has seen deep cooperation across sectors like security, energy, technology, education, and pharmaceuticals over the past 25 years. He stated that while “relationships will never be free of issues,” what matters is the ability to address challenges and keep moving forward.
He is scheduled to meet US Secretary of State Marco Rubio later this week during the QUAD Foreign Ministers’ meeting, where both trade and regional security are expected to be discussed.
