Top trade negotiators from India and the United States failed to resolve their tariff dispute during talks on the sidelines of the United Nations General Assembly in New York this week, with New Delhi urging Washington to drop levies linked to Russian energy imports, according to multiple sources with knowledge of the negotiations.
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US Trade Representative Jamieson Greer met Indian Commerce and Industry Minister Piyush Goyal on Monday. The pair were joined by US Secretary of State Marco Rubio, Indian Foreign Minister Subrahmanyam Jaishankar and Sergio Gor, a close aide of US President Donald Trump and Ambassador-designate to New Delhi.
Indian officials had initially declined to confirm the Greer-Goyal meeting, but on Friday, the country’s Commerce Ministry acknowledged the talks in a statement.
“The delegation had constructive meetings with the US Government on various aspects of the deal,” it read, adding that both sides exchanged “views on possible contours” of the deal.
“It was decided to continue the engagements with a view to achieving the early conclusion of a mutually beneficial Trade Agreement,” the statement added, without providing a timeline.
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Trump to impose 25% tariff on India from August 1, plus ‘penalty’ for Russia ties
Trump to impose 25% tariff on India from August 1, plus ‘penalty’ for Russia ties
According to government sources, both sides hope to strike a deal by the end of September to make way for Trump to visit India in the Autumn for a planned Quad leaders’ summit. However, this may be postponed to next year if the trade dispute continues.