The much-anticipated India-US trade deal is not on the immediate horizon, according to US Trade Representative Jamieson Greer. Speaking after a G20 trade ministers meeting in Milwaukee, Greer confirmed that while both sides have identified a "universe of items" that represent sticking points, an agreement is not "imminent."
Greer's comments stand in direct contrast to recent statements by India's Commerce and Industry Minister Piyush Goyal, who just a week prior had asserted that the India-US trade deal was "done and dusted."
Despite the differing timelines, Greer described his conversation with Minister Goyal as "very constructive," indicating that officials from both nations are continuing their discussions. The core issue, as articulated by Goyal, revolves around India securing a "right competitive advantage" over the American market to ensure a quick execution of the agreement.
Goyal has highlighted India's broader strategy of expanding its network of Free Trade Agreements (FTAs), noting that the country has finalized nine such agreements. He had previously included the US deal among those "almost done and dusted."
Negotiations for the first phase of the bilateral trade agreement framework were initially concluded in February. However, subsequent changes in tariff structures necessitated further discussions, prolonging the finalization process.