Could the India Trade Deal Be Achieved Soon According to White House Economic Advisor?
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Synopsis
As the US-India trade talks intensify, White House Economic Advisor Kevin Hassett expresses optimism about an impending deal. With complexities tied to India's relations with Russia, both nations are making strides toward a significant agreement that could reshape economic ties.
Key Takeaways
- US-India trade deal could materialize soon.
- Complex geopolitical relations complicate negotiations.
- US and India are engaging in frequent discussions.
- India is increasing oil and gas imports from the US.
- Importance of balancing interests in trade agreements.
Washington, Nov 18 (NationPress) White House economic adviser Kevin Hassett announced on Monday that a trade agreement with India might come to fruition "soon."
In an interview with CNBC, Hassett emphasized that the two nations are "good friends" and that the Trump administration remains "very optimistic" about the potential deal.
"I believe we are still quite hopeful. They are good friends, and we are aiming to resolve this soon," he remarked.
Hassett also pointed out that the situation is "complicated" due to India's relationship with Russia.
"I’ve been in contact with the ambassador…we've had several meetings, and I think it’s a complicated situation due to the interplay of what India does with Russia and how that impacts our relations… It's intricate because there are numerous variables in the India-American relationship," he stressed.
His comments coincided with statements from Commerce Secretary Rajesh Agrawal, who also suggested that the trade agreement is "approaching completion."
Agrawal informed reporters in New Delhi that both countries have been engaging in consistent virtual discussions regarding the Bilateral Trade Agreement (BTA). While no definitive timelines can be established, the initial phase of discussions is advancing rapidly, he mentioned.
US President Donald Trump has conveyed encouraging messages regarding the enhancement of US-India ties in the past week, raising hopes that a bilateral trade agreement between the world’s two largest democracies could soon be formalized.
Trump remarked to the press at the White House on Thursday that his interactions with Indian Prime Minister Narendra Modi were "progressing well" and hinted at a possible visit to Delhi next year.
Earlier on Monday, Trump indicated plans to "reduce tariffs" on India "at some point," suggesting that a breakthrough in the trade negotiations could be imminent.
"I think we are quite close to finalizing a deal with India that benefits everyone," Trump stated in response to a media inquiry during the swearing-in ceremony of Sergio Gor as the new US Ambassador to India.
While optimism exists among some Indian officials regarding a swift signing of the India-US trade agreement, Commerce Minister Piyush Goyal emphasized on Tuesday that India would not sacrifice the interests of its farmers, the dairy sector, and its workforce in trade agreements with other nations.
"We are striving for a fair, equitable, and balanced trade agreement," he affirmed.
The minister further remarked that the timing of such agreements would rely on mutual preparedness.
"The trade agreement could materialize tomorrow, next month, or next year... but as a government, we are ready for any eventuality," he added.
India has already commenced purchasing increased quantities of oil and gas from the US. This strategy aims to mitigate India’s trade surplus with the US, which has been a topic in earlier trade discussions.
In this regard, Minister of Petroleum and Natural Gas Hardeep Singh Puri announced on Monday that India’s public sector oil companies have successfully arranged a one-year structured contract to import approximately 2.2 million tonnes per annum of LPG from the US Gulf Coast by 2026.
This constitutes nearly 10 percent of India’s yearly LPG imports and signifies the first structured LPG contract with the US for the Indian market.
The minister characterized this decision as "a historic milestone," highlighting that one of the world’s largest and fastest-growing LPG markets has now opened up to the US.
Point of View
It's essential to recognize the significance of the prospective US-India trade deal amidst complex geopolitical dynamics. Both nations stand to gain economically, but it is crucial to ensure that any agreement is equitable, addressing the needs of all stakeholders involved. The ongoing dialogue reflects a commitment to strengthening bilateral relations, and careful navigation of this process will be vital for mutual prosperity.
NationPress
18/11/2025
Frequently Asked Questions
What is the status of the US-India trade deal?
The trade deal is reportedly nearing completion, with positive discussions taking place between US and Indian officials.
Who is the US President involved in these talks?
US President Donald Trump is actively involved in discussions regarding the potential trade agreement with India.
What are the complexities affecting the trade agreement?
India's relationship with Russia adds complexity to the negotiations, making the situation intricate for both parties.
How is India preparing for the trade deal?
India is actively engaging in discussions and has already begun increasing its imports of oil and gas from the US to balance trade.
What has the Indian Commerce Minister stated about the trade deal?
Commerce Minister Piyush Goyal emphasized that India will not compromise on the interests of farmers and workers in trade agreements.
