A significant bilateral trade agreement between India and the United States is reportedly on the cusp of being signed, with a senior US official stating that the deal could be finalized within the next three to four months. Negotiations between the two economic powers have largely concluded, with the remaining holdup attributed to Washington's ongoing Section 301 trade investigations.
Speaking on the sidelines of the ASEAN Foreign Ministers' meeting in Manila, the unnamed US official conveyed to Reuters that the agreement itself is effectively complete. "The deal... is there. We literally have the paper," the official was quoted as saying, underscoring the advanced stage of the negotiations.
Section 301 Reviews Delay Finalization
The finalization of the US-India trade pact is awaiting the conclusion of the United States' Section 301 investigations. One such investigation, encompassing 60 countries, is anticipated to wrap up in the coming weeks. Once these reviews and other ongoing investigations are completed, progress is expected not only with India but with other nations as well, according to the official.
When pressed for a timeline on the trade agreement's ultimate conclusion, the official estimated, "Maybe another three, four months."
Diplomatic Talks in Manila
Concurrently with the trade deal discussions, India's External Affairs Minister S. Jaishankar met with US Secretary of State Marco Rubio in Manila. Their discussions, held during the ASEAN and Quad grouping meetings, focused on key areas of the India-US Comprehensive Global Strategic Partnership.
Minister Jaishankar confirmed via social media that their meeting covered trade and tariffs, energy, defense and security, critical minerals, and artificial intelligence. The diplomats also exchanged views on the West Asia crisis and its potential impact on global energy supplies and market stability.