United States Trade Representative Jamieson Greer reported on Thursday that the US and India are nearing the end of trade deal negotiations, but have identified a 'universe of items' as sticking points. The US President Donald Trump and Prime Minister Narendra Modi could speak again 'very soon' to assess progress.
United States Trade Representative Jamieson Greer on Thursday stated that the US and India were nearing the end of trade deal negotiations, according to ANI. He also mentioned that an agreement was not imminent as both sides have identified a 'universe of items that are sticking points'. The US is hosting the G20 this year, and Greer had met Union Minister of Commerce and Industry Piyush Goyal during the G20 Trade Ministers’ Meeting in Milwaukee, Wisconsin. Greer described his conversation with Goyal as 'very constructive'. However, he also stated that there was nothing imminent regarding the trade deal's progress. Greer further stated that US President Donald Trump and Prime Minister Narendra Modi could speak again 'very soon' to assess the deal's progress.
Greer's statements came weeks after Trump gave his assent to a legislation that allows him to impose tariffs of up to 100% on India and other countries that purchase Russian oil and gas. It is worth noting that India has increased its purchases of Russian oil this year, while New Delhi and Washington negotiate a preliminary trade deal. India’s import of Russian oil rose to an 11-month high in April, following the US and Israel’s war on Iran.
Over the past year, there have been diplomatic tensions between Washington and New Delhi over India’s continued purchases of Russian crude. In July, the US imposed a 10% tariff on goods purchased from India and 16 other countries, citing inadequate measures to prevent the use of forced labour in production. India has denied the allegations.
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