India-U.S. trade deal: Likely to finalise and sign joint statement in ‘four to five days’, Piyush Goyal says - The Hindu
India and the United States are continuing discussions on a proposed trade agreement, but a final deal is yet to be reached due to unresolved tariff-related issues. Commerce and Industry Minister Piyush Goyal clarified that recent joint statements between the two countries are not legally binding and should not be viewed as a concluded agreement. He emphasized that India will only enter into trade arrangements that protect national interests, domestic industries, and farmers. The talks aim to strengthen economic cooperation, improve market access, and reduce trade barriers, but both sides still have differences on import duties and regulatory concerns. Goyal reiterated that India’s trade policy prioritizes long-term benefits rather than quick compromises. While negotiations are progressing positively, the government remains cautious and selective about commitments. The ongoing dialogue signals intent, but a formal legal trade pact will require further consensus on key economic and tariff-related matters between the two nations.
The Key points
- India-US trade talks are ongoing, with no final agreement yet
- Piyush Goyal says joint statements are not legally binding
- Tariff disagreements remain a major hurdle
- India prioritizes protecting domestic industries and farmers
- Trade deal will not be rushed for short-term gains
- Both nations seek better market access
- Regulatory and duty-related issues need resolution
- India aims for balanced and fair trade terms
- Negotiations reflect intent, not a finalized pact
- Legal trade agreement will take more time and consensus
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