Sergio Gor and Piyush Goyal dismissed claims of India rejecting a quick trade deal, emphasizing ongoing constructive negotiations between Washington and New Delhi. India and the US have yet to finalize a trade agreement as differences remain on tariffs and agricultural issues.
US Ambassador to India Sergio Gor on Monday rejected a news report which claimed that India has rejected a quick trade agreement with the US and is now holding out for a better deal.
“Fake news alert! No one has rejected anything. Both sides had very constructive meetings and reaffirmed their commitment to finalizing a trade deal. We continue to stay actively engaged,” Gor said in a post on social media platform X.
Addressing Reuters, the news agency which published report, Gor said, “Reuters – you can do better!”
The news agency had published an analysis titled “An emboldened India holds out for better terms in US trade talks”, in which it made the claim citing officials and analysts.
Gor’s comments come in the wake of India’s Commerce Minister Piyush Goyal also rejecting the report on Monday.
What Piyush Goyal said
Goyal, on Monday, rejected the claims made in the report, saying in an X post, “This news is completely false, baseless and misleading.”
“I had fantastic meetings with USTR Jamieson Greer, @USTradeRep, when he visited Delhi in June. Both sides reaffirmed their commitment to an agreement that is balanced, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both countries,” Goyal said, adding, “Our teams remain fully engaged in achieving this objective.”
Indian Trade Secretary Rajesh Agrawal, the top official in the ministry, said: “The framework deal is ready, whenever it is the right time, it will be signed”.
What the Reuters analysis claimed
Reuters on Monday claimed that the “two nations failed to finalise an interim trade agreement during US Trade Representative Jamieson Greer’s visit to New Delhi last month, despite expectations from both sides that a limited deal was within reach.”
“There was no consensus because Washington did not offer assurances on New Delhi’s key demands: a tariff advantage over competitors such as China and no new US levies after the deal,” the report said, citing an Indian government official aware of the talks.
“Our position is clear – we don’t intend to rush into a deal that is not on favourable terms or compromise on red lines like ceding ground on agriculture,” Reuters quoted said official as saying.
The agency also cited a US source aware of the talks to claim that Washington views that India has to earn the preferential treatment it seeks on trade provisions by making its own concessions.
The two Indian and US sources the report is based on did not wish to be named, the agency said, since the negotiations are confidential.
US tariffs on India
Like most countries, Indian goods entering the US now attract a tariff of 10%. However, the Trump government is expected to introduce steeper tariffs later this month as it probes excess industrial capacities. India has denied charges of such surplus capacity, Reuters reported.
Washington has proposed tariffs of up to 12.5% on dozens of nations, which includes India, over allegations that they have failed to curb trade in goods that have been made using forced labour.
The Reuters report quoted another Indian official to claim that India is calculating whether some measures taken by the Trump government could face legal or political setbacks.
This comes as 22 Democratic state attorney generals have already filed objections to the proposed tariff rates by the Trump government.
“India realises that delaying – or even abandoning – a rushed deal may be more prudent than locking into obligations whose costs could far exceed any temporary tariff relief,” founder of the Global Trade Research Initiative Ajay Srivastava, who is also a former trade negotiator, told Reuters.
With agency inputs
About the Author
Sayak Basu
Sayak Basu is a digital journalist with more than seven years of experience in covering general news, politics, science, cricket, and football. He brings a sharp editorial eye and a keen attention to detail in the newsroom.
Sayak focuses on breaking stories, analysis of political and sporting events, and new scientific research that is pushing the limits of civilisation.
He has earlier worked for publications like NewsBytes, Cinemaholic, Zacks Investment Research, and Deccan Herald. Sayak currently serves as an Assistant Editor at Livemint where he runs daily news operations.
Sayak has a master’s degree in English Literature from Jadavpur University, Kolkata.
Based out of Bengaluru, he has a keen interest in world cinema, literature, sports, and music.
Read More
Raleigh Mischke