In a significant development for bilateral economic relations, the newly appointed United States Ambassador to India, Sergio Gor, announced that a fresh round of talks on the long-pending India-US trade deal is scheduled for Tuesday. Gor, who recently assumed charge, provided this crucial update, signaling continued momentum in the complex negotiations.
Active Engagement and Upcoming Negotiations
Addressing the status of the trade pact, Ambassador Gor stated that both nations remain actively engaged in discussions. The next crucial call on trade is set to occur on Tuesday, marking a continued effort to bridge differences. He acknowledged the scale of the challenge, noting that reaching an agreement with the world's largest nation is no simple task, but expressed a firm determination to see the process through.
"Many of you have asked me for an update on the ongoing trade deal negotiations. Both sides continue to actively engage. In fact, the next call on trade will occur tomorrow," Gor confirmed. He emphasized that while trade is a vital component, the US-India partnership extends far beyond commerce, encompassing critical areas like security, counter-terrorism, energy, technology, education, and health.
Navigating Tariff Hurdles and Strategic Importance
The trade negotiations face a significant hurdle in the form of existing tariffs. Currently, India faces 50% tariffs on its exports to the US. A substantial portion of this, 25%, constitutes penal tariffs imposed due to India's continued import of crude oil from Russia. This issue remains a major point of contention.
Compounding the pressure, former US President Donald Trump has previously threatened even higher tariffs on India if it does not halt purchases of Russian crude. Furthermore, a new bill proposing 500% tariffs on countries buying Russian oil has reportedly received Trump's endorsement and is awaiting a vote in the Senate, casting a shadow over the talks.
Despite these challenges, Ambassador Gor underscored the indispensable nature of the Indo-US relationship. "No partner is more essential than India," he declared, outlining his goal to pursue an ambitious agenda to elevate the partnership. "We will do this as true strategic partners, each bringing strength, respect, and leadership to the table," he added.
A Foundation of High-Level Friendship
Gor highlighted the strong personal bond between former President Trump and Prime Minister Narendra Modi as a stabilizing force in the relationship. Having traveled extensively with Trump, Gor attested to the authenticity of this friendship.
"I've travelled all over the world with President Trump, and I can attest that his friendship with Prime Minister Modi is real," Gor said. He characterized the US-India bond as one anchored at the highest levels, where real friends can disagree but ultimately resolve their differences.
In a personal note, Gor shared, "I spoke with President Trump just yesterday, and I bring his warm wishes to all the people of India, especially his dear friend, the incredible Prime Minister Modi." He also expressed hope for a future visit, stating, "I hope the President will be visiting us soon, hopefully in the next year or two."
As both sides prepare for the upcoming dialogue, the world watches to see if this fresh round of talks can finally break the impasse and pave the way for a landmark trade agreement between the world's oldest and largest democracies.
