Union finance minister Nirmala Sitharaman stated that trade negotiations between India and the United States are ongoing but have reached a point where further concessions may be difficult. She indicated that both nations are seeking common ground to move forward.
Sitharaman, speaking at an event in New Delhi, referenced the recently concluded India-EU free trade agreement as an example of a mutually beneficial deal where sensitivities were respected. However, she noted that the India-US agreement is still being finalized and has been the subject of rigorous negotiation.
Her remarks followed comments from US Trade Representative Jamieson Greer, who also suggested that a trade agreement was not imminent. Experts point to trade uncertainties and the use of tariffs by Washington as significant obstacles to reaching an interim bilateral trade agreement.
The finance minister also addressed the trade balance between India and the US, suggesting that concerns over trade deficits could be resolved through negotiation rather than the imposition of tariffs, drawing parallels with trade imbalances involving China.
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Source: hindustantimes.com
