India presents strong trade offers to US in ongoing talks
US Trade Representative Jamieson Greer told a Senate appropriations subcommittee on Tuesday that discussions in Delhi aimed at increasing American access to the Indian market are moving forward, although some proposals face resistance. “They’ve been quite forward-leaning,” Greer said. “The type of offers they have been talking to us [about], have been the best we have ever received as a country. So, I think that is a viable alternative…”
India’s Commerce Minister Piyush Goyal confirmed on Wednesday that talks are progressing, stating, “We are moving forward towards a bilateral trade agreement.” A US delegation led by Deputy Trade Representative Rick Switzer is currently in New Delhi for another round of negotiations. This marks the second visit by US officials since India imposed a 25% reciprocal tariff and an additional 25% levy related to its purchase of Russian oil, following a prior visit on September 16.
Goyal had previously led an Indian delegation to the US in September for trade discussions. Commerce Secretary Rajesh Agarwal, India’s chief negotiator, expressed optimism in November that a trade pact could be finalized by the end of the year.
Meanwhile, on Tuesday, US President Donald Trump threatened additional tariffs on India, alleging that the country was dumping rice into the American market. The US remains India’s largest export destination, accounting for $52 billion in exports during the first seven months of the current fiscal year.
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