US Treasury Secretary: India-US Trade :
The path towards a Bilateral Trade Agreement (BTA) between India and the United States appears to be clearing, with positive sentiments expressed by top US officials. United States Secretary of the Treasury, Scott Bessent, recently stated that trade negotiations with India are “moving well” and are notably “easier” compared to discussions with many other nations.
Speaking at a press briefing, Secretary Bessent highlighted India’s transparent tariff structure as a key factor simplifying the negotiation process. He explained that directly addressing clearly defined, albeit high, tariffs is more straightforward than navigating the often harder-to-detect non-tariff barriers prevalent in other countries. “We are very close on India,” Bessent remarked, suggesting that tackling these explicit tariffs makes the negotiation process more manageable when addressing long-standing trade dynamics.
The goal remains to finalize a BTA by Fall 2025, indicating a clear timeline and mutual commitment to reaching an agreement.
Secretary Bessent also acknowledged the positive impact of recent high-level diplomatic engagements. He specifically mentioned US Vice President JD Vance’s visit to India the previous week, noting that the Vice President and Prime Minister Narendra Modi made “very good progress,” which could lead to upcoming announcements regarding the trade talks.
Echoing this optimism, India’s Ministry of Commerce and Industry has confirmed that the BTA discussions with the US are showing “positive progress.” Officials from India’s Department of Commerce and the Office of the US Trade Representative held detailed meetings in Washington D.C. from April 23rd to 25th, building on earlier rounds held in New Delhi in March.
These discussions have covered a wide array of topics, including both tariff and non-tariff issues, with the objective of laying the groundwork for the initial phase of the agreement and identifying areas for early mutual benefits across various sectors. While expert-level talks have been conducted virtually, in-person sectoral meetings are scheduled to commence from the end of May.
These ongoing negotiations are in line with the vision set forth in the Leaders’ Statement of February 2025, which emphasized the strengthening of bilateral trade ties and enhancing supply chain cooperation, following Prime Minister Modi’s visit to the US and his discussions with President Trump.
The positive tone from both sides signals strong momentum towards finalizing a trade agreement that could further boost economic collaboration between India and the United States.
Source – Fieo
[…] development comes at a delicate juncture for India-US trade relations. Both countries have recently expressed optimism regarding the progress of negotiations […]
[…] in advanced technology, and deepen bilateral trade relations, particularly with Washington, as trade negotiations […]