India, US have reached a plateau in trade talks, Indian finance minister says
NEW DELHI: India and the United States have reached a plateau in their trade deal talks, India’s Finance Minister Nirmala Sitharaman said on Monday, a further sign that the two sides have hit a wall on a crucial deal. Giving or taking more beyond that plateau would be “very, very difficult” for both countries, Sitharaman said at an event in New Delhi. “Maybe if there are rooms to operate from,…
India and the United States have reached a standstill in their ongoing trade negotiations, according to India's Finance Minister Nirmala Sitharaman. At an event in New Delhi, Sitharaman stated that advancing beyond the current "plateau" would prove extremely challenging for both nations.
Sitharaman acknowledged that discussions were still ongoing between the two sides, emphasizing the complexity of the negotiations. Meanwhile, US Trade Representative Jamie Wisner indicated last week that an agreement was not imminent following a meeting with Indian Trade Minister Piyush Goyal in Washington.
The trade talks between India and the US have been ongoing since February 2025, with the objective of strengthening economic ties and addressing long-standing market access issues. Sitharaman noted that India's trade balance with the US is currently favorable, indicating that the deficit lies with Washington. She suggested that both countries would likely seek to alleviate this imbalance in the forthcoming deal.
Earlier this year, Reuters reported that India was seeking more favorable terms in the trade agreement with the US.
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