India-US trade deal 99% finalised, says Sergio Gor
The US Ambassador to India shared that negotiations between India and the US have been underway for nearly one-and-a-half years.
The US Ambassador to India shared that negotiations between India and the US have been underway for nearly one-and-a-half years.
The broader India-US trade agreement will be signed in a phased manner, and negotiations for the second phase of the pact will continue after the signing of the first tranche of the deal.
The June 1-4 visit is expected to focus heavily on finalizing the contours of an interim trade arrangement while simultaneously advancing broader negotiations on market access, customs cooperation, investment facilitation and economic security alignment between the two strategic partners.
Discussion between Marco Rubio and Ajit Doval focused on defence, security and strategic technology related cooperation including the TRUST initiative.
Marco Rubio's maiden trip to India comes after Donald Trump administration's trade and tariff policies.
The White House has rolled out a temporary import duty using a rarely discussed trade provision, raising questions over exemptions, duration, and the scope of presidential powers in trade matters.
Senior Congress leader P. Chidambaram questioned the Modi government over the implications of the US Supreme Court ruling on the recently announced trade framework between India and the United States.
As questions swirl over presidential tariff powers, Trump projected confidence in bilateral ties, calling his relationship with India “fantastic” and indicating plans around the upcoming Quad Summit.
With billions in levies potentially refundable, Washington has moved swiftly to impose a temporary surcharge while preserving existing national security and unfair trade tariffs.
Surjewala highlighted public statements by US officials, including Marco Rubio, who said India had committed to stop buying Russian oil as part of broader discussions tied to the trade framework. Rubio’s remarks came at the Munich Security Conference, where he said Washington had “gotten their commitment to stop buying additional Russian oil” following talks with Indian officials.
