Union Minister Piyush Goyal announced that trade talks between India and the U.S. are progressing well, but emphasized there is no deadline for finalizing a tariff deal.
MUMBAI – On December 11, Union Minister Piyush Goyal stated that the ongoing trade discussions between Indian and U.S. officials are advancing positively. However, he made it clear that there is no set deadline for reaching an agreement.
During a briefing about U.S. Deputy Trade Representative Rick Switzer’s recent two-day visit to New Delhi, Goyal remarked, “We had very good substantive discussions. But I have said on record that a deal is only done when both sides stand to benefit. We should never negotiate with deadlines because you tend to make mistakes then.”
Goyal elaborated on the nature of the current discussions, noting, “Negotiations are progressing well. We’ve had substantive discussions over several rounds of negotiations. In the past, I think five rounds have happened. The current visit is not a negotiating round. The current visit is being undertaken by a new Deputy United States Trade Representative (USTR) who has joined about three months ago. It’s his first visit to India. We’re getting to know each other.”
On December 10, India’s Commerce Secretary Rajesh Agrawal and U.S. Deputy Trade Representative Switzer engaged in discussions regarding the proposed bilateral trade agreement between the two nations.
As the talks continue, both sides appear committed to fostering a mutually beneficial relationship, with Goyal emphasizing the importance of thorough negotiations over rushed agreements.
This ongoing dialogue reflects the broader context of U.S.-India trade relations, which have seen fluctuations and challenges in recent years. The absence of a deadline suggests a cautious approach, prioritizing the quality of the agreement over speed.
According to IANS, the discussions are part of a larger effort to enhance trade ties between the two countries, which have been working towards a comprehensive trade agreement that addresses various sectors and concerns.