US-India trade deal not 'imminent': US trade chief
What's the story
The United States and India are still working on the details of a long-awaited trade agreement, US Trade Representative Jamieson Greer said on Thursday. He added that while negotiations are ongoing, an agreement is not "imminent." His comments came after a phone call between Indian Prime Minister Narendra Modi and US President Donald Trump, which Modi described as "productive."
India's view
Commerce Minister Goyal expresses optimism
Responding to a question from ANI, Greer said, "I don't think there is something imminent."
He added that "we truly have identified the universe of items that are sticking points."
Indian Commerce Minister Piyush Goyal, who is in the US for trade deal negotiations and the G20 trade ministers meeting, sounded more optimistic.
He said discussions with Greer were about "early conclusion of a mutually beneficial interim agreement under the India-US Bilateral Trade Agreement."
Trade complexities
Sticking points in the US-India trade talks
The trade relationship between the US and India has been complicated by several factors.
For Washington, India's continued purchase of Russian oil is a major sticking point.
Meanwhile, New Delhi wants to protect its politically sensitive agricultural sector and preferential tariffs that give it an edge over other countries.
These conflicting priorities have made reaching a consensus on a bilateral trade agreement challenging.
Tariff impact
What is the current status of the India-US trade relationship?
Currently, Indian exports to the US are subject to a 10% tariff. This came after the conclusion of an investigation by the USTR into forced labor practices in 60 countries.
However, according to the Indian government, a large part of its exports to America, including generic drugs and smartphones, are not covered by this duty.