‘More negotiations needed…': Trump administration official shares update on India-US trade deal; no agreement before August 1 deadline?
India-US trade deal: In an indication that a trade deal between India and the US was less likely ahead of Donald Trump's August 1 tariff deadline, an American top official has said that more negotiations are required.
According to a Bloomberg report, US Trade Representative Jamieson Greer has said that "more negotiations" are required between the two countries even as talks continue. Greer's statement comes days ahead of US President Donald Trump's August 1 tariff deadline, post which countries face higher tariffs.
Since India did not receive any tariff letter from Trump, it is yet unclear whether the 26% tariff rate announced for India on April 2 will kick in from August 1 or not.
Trump has additionally warned of implementing "secondary tariffs" on countries such as India and China for their Russian oil purchases.
Also Read |
India-US trade deal: India treads cautiously after Trump's trade agreements with Japan, others face challenges - here's what's happening
Although India was one of the initial countries to initiate trade discussions with the White House this year, it has hardened its stance especially on agriculture and dairy sectors.
In a CNBC interview on Monday, Greer spoke of the need for further discussions to seal a trade deal.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Elegant New Scooters For Seniors In 2024: The Prices May Surprise You
Mobility Scooter | Search Ads
Learn More
Undo
Despite his earlier hints at an imminent agreement with New Delhi, he emphasised that India's traditional stance of market protection meant that any reduction in trade barriers would signify a significant policy shift.
India-US Trade Deal: Talks Continue
"We continue to speak with our Indian counterparts, we've always had very constructive discussions with them," Greer said.
"They have expressed strong interest in opening portions of their market, we of course are willing to continue talking to them," Greer said.
"But I think we need some more negotiations on that with our Indian friends to see how ambitious they want to be,' he said according to the Bloomberg report.
Commerce Minister
Piyush Goyal
recently expressed optimism about reaching an agreement to prevent the proposed 26% tariffs. Goyal maintained that the US-India relationship was free from contentious issues, noting that discussions had not included immigration policies, including H-1B visa regulations for skilled workers.
Also Read |
Donald Trump tariffs: Will the August 1 deadline by extended by US President? What Commerce Secretary Lutnick said
Goyal has said that trade deal talks are progressing at a 'fast pace' even as he stressed that for any trade agreement India would keep its national interest in mind. He also said that trade deals cannot be worked out on the basis of deadlines.
India has shown readiness to eliminate tariffs on specific products including auto parts and pharmaceutical items during trade discussions. However, the country maintains firm restrictions on agricultural and dairy sectors, which it considers non-negotiable in the final agreement.
"The thing to understand with India is their trade policy for a very long time has been premised on strongly protecting their domestic market. That's just how they do business" Greer said.
"And the president is in a mode of wanting deals that substantially open other markets, that they open everything or near everything."
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
2 minutes ago
- Hindustan Times
The Trump Organization has partnered with leading Indian developers, earning nearly ₹175 cr from seven projects: Report
US President Donald Trump's family-run business, The Trump Organization, has treated India as its most significant market outside the US over the past decade. According to a report by The Indian Express, the company has earned at least ₹175 crore through partnerships with top Indian developers across seven projects in Mumbai, Pune, Kolkata, and Gurugram. The Trump Organisation has earned at least ₹ 175 crore through partnerships with top Indian developers across seven projects in Mumbai, Pune, Kolkata, and Gurugram.(Picture for representational purposes only)(Panchshil Realty website) Operating on a high-margin, zero-investment model, the firm neither buys land nor funds or constructs projects. Instead, it licenses the Trump brand for luxury real estate developments, collecting branding and development fees upfront, typically earning 3–5% of eventual sales. This asset-light approach has made India the organization's most profitable international market. 'The Trump Organization's earnings from these are yet to be disclosed, but experts said, its partnerships with the biggest builders, not only allows the Trump enterprise to tap into the most lucrative markets in the world's fastest growing economy, but also brings it continuous revenue stream with no financial risk,' the Indian Express report said. Between 2012 and 2019 alone, The Trump Organization earned $11.3 million in royalties and fees from four branded projects in Pune, Mumbai, Gurugram, and Kolkata, the Indian Express report said. By 2024, that figure had jumped. Trump's own financial disclosures show $12 million in new earnings from India, $10 million of which reportedly came from the Mumbai project. Another $2.2 million came from license and royalty fees paid by developers, the report said. 'Over the last eight months, Brand Trump has been on an aggressive expansion drive in India. Soon after his election as the 47th President of the United States of America on November 5, 2024, The Trump Organization, along with its Indian partner Tribeca Developers, announced at least six projects in Gurugram, Pune, Hyderabad, Mumbai, Noida and Bengaluru, adding up to 8 million sq feet of realty development," the IE report said. Also Read: Trump Organization enters India's office space segment: What does this mean for the Pune real estate market? From the first project announced in India in 2012, Brand Trump's footprint is set to see, by the time these projects are complete, a near four-fold expansion to 11 million square feet, a sharp jump from approximately 3 million sq ft developed until last year, the report noted. The Trump Organisation's footprint in India Of the total planned projects, three spanning approximately 4.3 million sq ft, or over half of Brand Trump's targeted footprint have already been launched this year in Pune, Gurugram, and Hyderabad. The Pune project, announced in March, marks the brand's first commercial development in the city. The properties are typically billed as luxury developments, with flats commanding a premium due to the President's name being attached to them, said the IE report. The Trump Organization, headquartered in NYC, is a family-controlled conglomerate and functions as the main holding company for Donald J. Trump's various business ventures through numerous subsidiaries spanning various industries, including real estate and hospitality. Founded and majority-held by Donald J. Trump, the organisation has his sons Donald J. Trump Jr. and Eric Trump as executive vice-presidents.
India Today
2 minutes ago
- India Today
Trump ally Marsha Blackburn announces her candidacy for Tennessee governor
Republican senator and Trump ally Marsha Blackburn announced on Wednesday that she will contest for the post of governor in Tennesse.A strong supporter of Donald Trump, Blackburn represents a state he won by almost 30 percentage points; if successful next year, she would be the first female governor in Tennessee's historyBLACKBURN'S OFFICIAL ANNOUNCEMENTBlackburn took it to her social media handle on X to formally announce her bid to run for the post of governor in official! I'm running for Governor to ensure Tennessee is America's conservative leader for this generation and the next.I would be honored to have your support. #TNGov Marsha Blackburn (@VoteMarsha) August 6, 2025advertisement It establishes a Republican primary showdown in August 2026 with John Rose, another supporter of Trump. They will contend to succeed GOP Gov. Bill Lee, who is reaching his maximum of two back-to-back four-year terms in her video campaign, she promised leadership in the arena of job creation, energy production and rendering world class education to children. She also made her comment on "deporting illegal aliens".PREVIOUS POLITICAL JOURNEYFirst elected to the US House in 2002, Blackburn aligned with the tea party movement and made regular appearances in Fox News. Prior to that, the Brentwood resident made a name for herself as a state lawmaker who aided to lead the revolt against a proposed Tennessee income tax in the early was the first female to serve Tennessee in the US Senate. In 2018, Blackburn secured her Senate position by almost 11 percentage points against Democrat Phil Bredesen, a well-liked former win signified a rightward shift from earlier Republican senators who had served the state. Last November, she secured reelection against Democratic state Rep. Gloria Johnson by over 29 percentage primary election for governor is scheduled for Aug 6, 2026.- EndsWith inputs from Associated Press
India Today
2 minutes ago
- India Today
Trump could meet with Putin as soon as next week, says White House aide
US President Donald Trump plans to meet Russian President Vladimir Putin as early as next week, and follow it up with a three-way meeting that includes Ukrainian President Volodymyr Zelenskyy — without any European leaders planned meetings, first reported by the New York Times, came to light during a phone call Trump held on Wednesday with several European leaders. According to reports, Trump said he intended to meet with Putin soon, followed by a second meeting including both Putin and Russians expressed their desire to meet with President Trump, and the President is open to meeting with both President Putin and President Zelenskyy. President Trump wants this brutal war to end," White House Press Secretary Karoline Leavitt said, responding to the report. However, she did not address the potential timing of a meeting. The potential meeting was revealed just hours after Trump's special envoy, Steve Witkoff, held talks with Russian President Vladimir Putin in Moscow. It's not clear whether Putin or Zelenskyy has officially agreed to the statement came after a three-hour meeting between Witkoff and Putin at the Kremlin, just two days ahead of the US-imposed deadline for Russia to show progress towards a peace agreement or face fresh economic penalties.- Ends
