More negotiations needed with India to sign trade deal: Jamieson Greer
More negotiations needed with India to sign trade deal: Jamieson GreerIANS

The US administration has said that more negotiations are needed with India to sign a bilateral trade deal, as the deadline of August 1 for reciprocal tariffs inches closer.

He added that India has "expressed strong interest in opening portions of their market".

"We, of course, are willing to continue talking to them. But I think we need some more negotiations on that with our Indian friends to see how ambitious they want to be," said the US Trade Representative.

"The thing to understand with India is that their trade policy for a very long time has been premised on strongly protecting their domestic market. That's just how they do business," Greer added.

He also said that China's willingness to hold trade talks with the US is a "good sign", but he is not expecting any "enormous breakthrough".

Union Commerce Minister Piyush Goyal has already said that an agreement could be reached to avert 26 per cent tariffs.

More negotiations needed with India to sign trade deal: Jamieson Greer
More negotiations needed with India to sign trade deal: Jamieson GreerIANS

Union Finance Minister Nirmala Sitharaman also said last week that trade talks with the US are progressing well. "I can't comment if bilateral trade is good or bad, but we are moving forward on bilateral. Negotiations with the US and EU are progressing well," she added.

US President Donald Trump has indicated that the US is "very close" to a trade deal with India, and it may be wrapped up soon. "We're very close to a deal with India, where they open it up" to imports from the US, he said earlier this month.

Trump has not sent India the tariffs notice that was sent out to several countries imposing tariffs as high as 35 per cent on pure trade considerations if they did not complete a deal by August 1.

(With inputs from IANS)