US President Donald Trump has said that the proposed India-US trade agreement is “pretty close” to completion, raising expectations of progress in negotiations that have continued for more than a year and a half.
During an interview with reporters in the Oval Office, Trump said whether or not the US and India were close to a trade deal. “I’ll make a deal. You’re going to make a deal. pretty close yeah,” he said.
Also, the plan proposed by Trump suggested it will be very different from past trade deals which the United States signed. He didn’t, however, specify any unique features about the deal, nor set a timeline for negotiations to be completed. The critical issues that lie ahead between the two countries are also still not clear.
His insights have resonated with businesses, exporters and investors from both nations due to the far-reaching effects of a trade deal for bilateral trade and economic relations.
The remarks were made in the midst of top-level discussions between the two countries. External Affairs Minister S Jaishankar met with U.S. Secretary of State Marco Rubio and discussed ways to advance the relations between both nations. During their discussions, bilateral cooperation was discussed on various matters such as trade, energy, technology, defence and humanitarian cooperation.
Rubio was also hopeful about the talks, saying that the trade agreement could be in weeks, not months.
Earlier this month, Commerce Minister Piyush Goyal met US Trade Representative Jamieson Greer during his recent visits to Milwaukee and Washington, talking about the nuts and bolts of the proposed deal.
Though both sides have given positive speeches, it has not been confirmed in the provided information whether a final agreement is scheduled to be confirmed or not. Over the next few weeks, the next stage of negotiations regarding the other conditions will be crucial.
If the deal becomes successful, the India-US economic relation may improve, but the ultimate results of the deal would rely on the terms of the deal agreed to by the two nations.