India-US trade deal stalls again, Sitharaman says ‘plateau’
Efforts to finalise an India-US bilateral trade agreement have stalled again. Senior officials on both sides have indicated the slowdown.
Finance Minister Nirmala Sitharaman said on 5 October that talks had reached a plateau. She said there was little room for manoeuvre.
US Trade Representative Jamieson Greer said a deal was not imminent.
The two sides had agreed on a framework in February 2026. That deal cut punitive US tariffs on most Indian goods from 50 percent to 18 percent.
A new US law has complicated matters. The Lindsey O. Graham Sanctioning Russia and Iran Act 2026 opens the way for tariffs of up to 100 percent on countries buying Russian oil.
India's Russian oil purchases have not fallen significantly.
An incomplete US Section 301 investigation on industrial overcapacity has also left final tariff levels uncertain.
Sticking points include agriculture, digital trade and market access.
The February framework covered US industrial goods and some farm products. These included tree nuts, fruit, soybean oil, wine and spirits.
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