Sergio Gor says major items in India-US trade talks are settled, with issues remaining
The US ambassador says negotiators are close to a deal, though talks continue on smaller issues and no agreement has been concluded.
US Ambassador Sergio Gor said at the Bloomberg New Economy Forum in Delhi on October 15 that the broad framework and major items of a proposed India-US trade agreement were settled. Smaller issues remained under negotiation, he said, leaving businesses on both sides waiting for a concluded deal and its terms.
Gor described the countries as ‘very close to landing’ an agreement and said he was confident it would be completed. His assessment marks progress in talks that The Economic Times said have run for about a year and a half; it does not establish that the two governments have signed a deal.
What remains in the India-US trade negotiations
Gor said negotiators had reached details involving individual products and tariff percentages. He described the work as complex because of the size of the two economies and the number of products and sectors involved, saying the sides could not match everything overnight. He said he had participated in several rounds involving US Trade Representative Jamieson Greer and Indian Commerce Minister Piyush Goyal.
Bloomberg reported that some remaining hurdles involved issues that emerged during negotiations, including changes in technology. The reporting does not identify agreed tariff rates or market-access terms, so Gor’s description of progress cannot yet tell importers and exporters what rules would apply to their goods.
Other officials have given different indications of the talks’ pace. Bloomberg reported that Indian External Affairs Minister S. Jaishankar said earlier this week he was encouraged by progress and saw the sides heading toward a landing point. It also reported that Finance Minister Nirmala Sitharaman had described negotiations as reaching a plateau a few weeks earlier, while Greer had said a deal was not imminent.
Russian energy tariff decision remains pending
A separate trade risk concerns a proposed 100% tariff related to purchases of Russian oil and gas. The Times of India reported that Gor expected President Donald Trump to decide on the measure within 10 days. Bloomberg reported Gor’s description of the proposal as pressure on Russia, with India among countries affected, rather than a measure aimed specifically at India. Neither account reports a presidential decision.
OMMCOM News reported Gor saying Secretary of State Marco Rubio would visit India soon, with engagements planned in Mumbai and Jamnagar. The report gave no date for the visit, and Gor did not present it as the date on which the trade agreement would be completed.
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Sources and context
- 'Big items are done': Sergio Gor gives update on India-US trade deal, Trump's 100% sanctions threatTimes of India
- 'Big picture, big framework, big items are done': Sergio Gor says India-US trade deal very close ahead of Marco Rubio's visitANI, carried by The Economic Times
- India, US very close to landing trade deal, ambassador Gor saysBloomberg, carried by Moneyweb
- India-US Trade Pact Very Close To Finalisation Ahead Of Rubio Visit: Sergio Gor | WorldOMMCOM News
AI-assisted article checked against the listed sources. NewsJaws did not conduct interviews or attend the reported events.