{"id":294544,"date":"2025-07-27T00:06:18","date_gmt":"2025-07-27T00:06:18","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/294544\/"},"modified":"2025-07-27T00:06:18","modified_gmt":"2025-07-27T00:06:18","slug":"india-us-trade-deal-indian-minister-piyush-goyal-says-fantastic-progress-in-talks-with-us","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/294544\/","title":{"rendered":"India-US trade deal: Indian minister Piyush Goyal says ‘fantastic’ progress in talks with US"},"content":{"rendered":"

Trump had first announced 26% tariffs on Indian goods on 2 April as part of a wider trade policy move. While the tariffs were initially paused until 9 July, the US later extended the deadline to 1 August.<\/p>\n

Indian delegations have made multiple trips to the US to finalise details of the deal.<\/p>\n

Last week, Trump seemed equally optimistic, saying that Washington and Delhi were “very close” to finalising<\/a> an interim trade agreement. The two countries aim to reach a bilateral deal by the end of this year.<\/p>\n

Speaking to Reuters news agency on Thursday, Goyal said, external<\/a> that India was making “fantastic progress” in trade deal talks with the US. <\/p>\n

“I do hope we’ll be able to conclude a very consequential partnership,” he added.<\/p>\n

When asked about India’s main sticking point – lower tariffs on agriculture and dairy products – Goyal said that “negotiations happen in the negotiation room.” However, he added that India might still pursue a comprehensive deal if smaller sectoral agreements can be achieved, according to Reuters.<\/p>\n

The minister expressed similar confidence , external<\/a>to Bloomberg, saying he believed India and the US would reach a deal before the deadline. However, it remains unclear how they will resolve the key issues that has stalled negotiations for months.<\/p>\n

Washington has pushed for greater access to India’s farm sector for years, seeing it as a major untapped market. But India has fiercely protected it, citing food security, livelihoods and interests of millions of small farmers.<\/p>\n

Until recently, the US was India’s largest trading partner, with bilateral trade reaching $190bn. Trump and Modi have set a target to more than double this figure to $500bn.<\/p>\n

India has already reduced tariffs on a range of goods – including Bourbon whiskey and motorcycles – but the US continues to run a $45bn (\u00a333bn) trade deficit with India, which Trump is keen to reduce.<\/p>\n","protected":false},"excerpt":{"rendered":"Trump had first announced 26% tariffs on Indian goods on 2 April as part of a wider trade…\n","protected":false},"author":2,"featured_media":294545,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5311],"tags":[49,978,659],"class_list":{"0":"post-294544","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-united-states","9":"tag-us","10":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114922283709727083","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/294544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=294544"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/294544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/294545"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=294544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=294544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=294544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}