India-US trade agreement: Donald Trump says India trade deal not finalized; US President's reciprocal tariff deadline in two days
India-US trade deal: Ahead of his self-imposed tariff deadline, US President Donald Trump has said that a trade agreement with India has not yet been finalized. 'India trade deal not been finalized,' said Trump.
Trump's remarks come two days ahead of the August 1, 2025 reciprocal tariff deadline. In the last few weeks Trump had said that the US is 'nearing' a deal with India. The likelihood of an interim trade deal announcement before the deadline appears slim for now.
Trump's comments come right after a US trade official indicated that additional negotiations are needed for a trade agreement between India and the US.
No India-US Trade Deal Before August 1?
US Trade Representative Jamieson Greer has confirmed ongoing discussions between both nations require further negotiation, reported Bloomberg.
The implementation of the 26% tariff rate for India, announced on April 2, remains uncertain as India has not received any tariff communication from Trump regarding the August 1 deadline.
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'More negotiations needed…': Trump administration official shares update on India-US trade deal; no agreement before August 1 deadline?
Despite being amongst the first countries to begin trade talks with the White House this year, India has maintained a firm position, particularly regarding its agriculture and dairy sectors.
Speaking to CNBC on Monday, Greer emphasised the necessity for additional discussions to finalise a trade agreement.
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India's historical approach to market protection suggests that any easing of trade restrictions would represent a major policy change, despite earlier suggestions of a forthcoming deal with New Delhi.
"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.
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India-US trade deal: India treads cautiously after Trump's trade agreements with Japan, others face challenges - here's what's happening
Meanwhile, Commerce Minister Piyush Goyal has recently shown confidence about securing an agreement to avoid the proposed 26% tariffs. He indicated that the US-India relationship remained positive, stating that discussions had excluded matters related to immigration policies, including H-1B visa provisions for skilled workers.
The minister indicated that negotiations for the trade agreement are advancing rapidly, while emphasising that India's national interests remain paramount in any such discussions. Goyal clarified that establishing trade agreements requires thorough consideration and cannot be constrained by deadlines.
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