US India Trade Deal: US Trade Representative Jamieson Greer has said India has been a tough nut to crack but it seems good deals are now on the cards.
A US delegation is presently in India for another session of talks for a bilateral trade agreement. A few months back, Trump administration imposed a 5 percent tariff rate on India exports to the United States.
India Difficult Nut To Crack
Greer said during a Senate Appropriations Subcommittee session in Washington that India has been reluctant to open its market for specific meat, row crops and other agricultural products. The US row crops include wheat, cotton, soybeans and corn.
The US trade rep said India has been very difficult but they have also been quite forward leaning. He added India is a viable alternative market and the future looks good for both countries.
Indian exporters and manufacturers anticipate an early completion of negotiations and subsequent deal announcements as their US-bound shipments are getting negatively impacted by elevated import duties.
Where Things Went Wrong Between India and USA?
United States levied a massive 25 percent duty on Indian products after India continued buying crude oil from Russia. An additional 25 percent was levied citing trade deficit concerns amounting to $46 billion in 2024-25.
For months, India has maintained that addressing these obnoxious tariffs is essential for addressing the initial phase of the trade agreement.
What the future holds for the US India Trade Deal?
During the Pravasi Rajasthani Divas in Jaipur, Commerce and Industry Minister Piyush Goyal indicated that discussions with the United States are in the advanced stage.
Presently, the two countries are conducting negotiations on two fronts: a comprehensive trade agreement and a framework trade deal focusing on tariffs. The agreement’s initial phase was scheduled for completion by autumn 2025. The India-US agreement expects to increase the value of bilateral trade by 2030 to $500 billion, up from the present $191 billion.
