Finance Minister Nirmala Sitharaman says India-US trade talks have hit a "plateau." Here is what that means and why it matters.A plateau means both sides have nearly exhausted what they can offer. Sitharaman said further give and take would be "very, very difficult," though talks continue. The framework for an interim deal was agreed in February, but signing stalled after the US Supreme Court struck down the tariff mechanism Washington had offered.For Indian exporters, the 10 percent US duty on most goods is likely to stay for now. A bigger threat looms: a US law lets the President impose duties of up to 100 percent on goods from top buyers of Russian oil, with first action due around October 18.Sitharaman accused the US of "weaponising" tariffs, noting the trade balance is "very much in our favour."

She said India will not chase a deal at any price.Meanwhile, India is pursuing investment treaties with Russia, Canada and others, and keeps doors open to trade deals with other partners.