NEW DELHI— As the August 1 deadline for reciprocal tariffs approaches, the United States has indicated that additional negotiations are required before finalizing a bilateral trade deal with India.
Speaking in an interview with CNBC, U.S. Trade Representative Jamieson Greer emphasized that while discussions with India have been constructive, more work is needed to reach an agreement.
“We continue to speak with our Indian counterparts — we’ve always had very constructive discussions with them,” Greer said. “India has expressed strong interest in opening portions of their market. We, of course, are willing to continue talking to them, but I think we need some more negotiations on that with our Indian friends to see how ambitious they want to be.”
Greer noted that India’s longstanding trade strategy has focused on safeguarding its domestic market. “That’s just how they do business,” he said.
The ongoing discussions come amid rising pressure to finalize trade terms before new tariffs take effect. While China has also resumed trade talks with the U.S., Greer tempered expectations, saying he did not foresee “an enormous breakthrough.”
On India’s side, Union Commerce Minister Piyush Goyal has expressed optimism that a deal could be struck to avoid a proposed 26 percent tariff. Finance Minister Nirmala Sitharaman also noted progress, saying, “Negotiations with the U.S. and EU are progressing well.”
Meanwhile, former U.S. President Donald Trump, who had previously overseen trade discussions with India, claimed earlier this month that a deal was near. “We’re very close to a deal with India, where they open it up to imports from the U.S.,” Trump had said.
Notably, India has not received the formal tariff notice that the U.S. had sent to several other countries, threatening duties of up to 35 percent if trade agreements were not finalized by August 1. (Source: IANS)
