India-US trade talks have reached plateau: Finance minister Nirmala Sitharaman
Indian Finance Minister Nirmala Sitharaman stated that trade negotiations with the US have reached a plateau, citing difficulties in reaching further compromises. The impasse is complicated by trade imbalances, energy purchase shifts, and US investigations into forced labor and structural overcapacity.
Why it matters
The stall in trade talks between the world's two largest democracies signals potential friction in global economic policy and bilateral relations.
NEW DELHI: In the latest sign of an impasse in negotiations for the much-discussed bilateral trade deal between India and US, finance minister Nirmala Sitharaman Monday said that the talks have "reached a plateau"."The agreement negotiations are still ongoing, although we'd like to believe that both sides have reached a plateau beyond which giving or taking might be very, very difficult. But maybe if there are rooms to operate from, both sides would do it," she said at the Munich Security Conference. Sitharaman said the US would seek to reduce the trade imbalance with India, estimated at $34 billion last year, compared with $41 billion in 2024-25. The gap is expected to narrow further as India has stepped up energy purchases from the US.The finance minister's comments come days after US Trade Representative (USTR) Jaimeson Greer said a deal is not imminent.
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