India and US trade talks hit roadblock, Nirmala Sitharaman says
Business
India and the US have run into a roadblock in their ongoing trade talks, according to Finance Minister Nirmala Sitharaman.
The negotiations, meant to open up markets and fix trade imbalances, are stuck for now, with both sides finding it tough to make new concessions.
The US is especially focused on shrinking its trade deficit with India.
US using tariffs as leverage
Sitharaman noted that the US has switched up its approach by using tariffs as leverage instead of just talking things out.
While things are at a standstill, she feels there's still a chance for progress if both countries try out fresh negotiation strategies.