India's Finance Minister Highlights Stalled U.S.-India Trade Negotiations
Indian finance minister Nirmala Sitharaman stated that trade talks with the United States have reached a plateau, raising concerns about finalizing a deal. The negotiations aim to reduce the significant U.S. goods trade deficit with India, which stood at $58.42 billion in 2025 and was already $28.4 billion for the first seven months of 2026. Washington seeks to increase its exports to India while New Delhi is pushing for preferential tariffs on Indian products exported to the U.S. Sitharaman questioned how far negotiations can go if reducing trade imbalance remains the sole focus, highlighting growing skepticism about a near-term agreement. Recent comments from U.S. Trade Representative Jamieson Greer also indicated that an agreement was not imminent despite ongoing discussions. Former U.S. officials warn both countries could face losses without a deal due to current high tariffs and potential future barriers. Prime Minister Narendra Modi recently discussed trade with President Donald Trump, but neither side has confirmed progress toward finalizing the pact.
Topics: government statements trade negotiations U.S. India trade deficit