The first phase of a trade deal between India and the United States has been finalised and is undergoing legal drafting, Commerce Minister Piyush Goyal said on Thursday.
Agarwal added that the trade deal has to be signed when the overall tariff structure would be formalised in the US. “Probably we are in a very good zone. I think people, the trade ministers, USTR (US Trade Representative) there and our Commerce and Industry Minister are there working on that.
Because not everybody has worked out a deal, “And that part of it is not entirely clear.
We anticipate closing the deal and signing the deal at the earliest possible time,” he told reporters. “So there is a parallel work being done in the US also to get back the tariff structure and based on some of the outcomes under (Section) 301, we will progress towards signing the deal at a mutually agreed time,” he said. They’re ironing it out,” he said. Earlier this month, US Trade Representative Jamieson Greer said the United States and India were working to finalise a bilateral trade deal, but an agreement was not imminent.
