Piyush Goyal US trade negotiations

US President Donald Trump has indicated that the proposed India-US trade agreement is close to completion but will differ significantly from Washington's previous trade arrangements. Speaking to reporters at the White House on Tuesday, October 20, 2026, Trump expressed confidence that both countries would reach an agreement following more than a year of negotiations over tariffs, market access and bilateral economic cooperation. Trump Signals New Approach to India-US Trade Deal Trump said India and the United States were approaching an agreement and suggested that its structure would be different from earlier American trade pacts. However, he did not explain what would distinguish the proposed agreement or disclose its final commercial terms. His comments followed Washington's decision to waive potential tariffs of up to 100% on countries purchasing Russian oil and gas, a measure that could have affected Indian exports. Marco Rubio Says Trade Agreement Nears Completion US Secretary of State Marco Rubio, currently visiting India, confirmed that only a limited number of outstanding issues remained unresolved. Rubio expressed optimism that negotiators could complete discussions soon, potentially allowing the two countries' leaders to formally sign the agreement. His visit includes discussions covering trade, energy security, technology, defence and broader strategic cooperation. US Ambassador to India Sergio Gor has also indicated that the major components of the agreement have been settled. Piyush Goyal Holds Talks With US Trade Officials Commerce and Industry Minister Piyush Goyal recently met US Trade Representative Jamieson Greer in Milwaukee and Washington to discuss outstanding provisions of the proposed agreement. India and the United States announced a framework for the first phase of their bilateral trade agreement in February 2026, but subsequent changes to American tariff policies required further negotiations. External Affairs Minister S. Jaishankar has also expressed optimism about the discussions. Despite encouraging statements from both governments, the final provisions and signing date remain unconfirmed.

Trump Says India-US Trade Deal Nears Completion

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