NEW DELHI– With the August 1 deadline for potential reciprocal tariffs fast approaching, the United States has signaled that more negotiations are necessary before a bilateral trade deal with India can be finalized.
In an interview with CNBC, U.S. Trade Representative Jamieson Greer emphasized that while discussions with Indian officials have been constructive, both sides still need to engage further to resolve key differences.
“We continue to speak with our Indian counterparts; we’ve always had very constructive discussions with them,” Greer said. He noted that India has “expressed strong interest in opening portions of their market,” but added that the U.S. is waiting to see how ambitious India is prepared to be in finalizing a comprehensive trade agreement.
“India’s trade policy has traditionally been centered on strong domestic market protections. That’s just how they do business,” Greer remarked, underscoring the historical challenge in negotiating broader market access.
While Greer also commented that China’s renewed willingness to engage in trade talks is a “good sign,” he tempered expectations, saying he does not anticipate any “enormous breakthrough” in those negotiations.
On the Indian side, Union Commerce Minister Piyush Goyal has previously stated that an agreement could be reached in time to avert a potential 26 percent tariff on certain goods. Union Finance Minister Nirmala Sitharaman echoed that sentiment last week, noting that trade talks with both the U.S. and European Union are progressing. “I can’t comment if bilateral trade is good or bad, but we are moving forward on bilateral. Negotiations with the U.S. and EU are progressing well,” she said.
Earlier this month, U.S. President Donald Trump struck a cautiously optimistic tone, stating, “We’re very close to a deal with India, where they open it up” to more American imports. Notably, the White House has not yet issued a tariffs notice to India—unlike other nations that have been threatened with levies of up to 35 percent unless they finalize trade agreements by the August 1 deadline.
With talks ongoing and political stakes high on both sides, the next few days could prove decisive in determining whether Washington and New Delhi can avoid a tariff showdown and cement a new chapter in bilateral trade relations. (Source: IANS)
