(Bloomberg) -- US President Donald Trump said a “very big” trade deal could be signed soon that would open up the Indian market to American business, as negotiators meet in Washington to break a recent deadlock over key issues.
“We are having some great deals. We have one coming up, maybe, with India, a very big one, where we are going to open up India,” Trump said at an event on Thursday at the White House.
Trump’s comments offer a note of optimism for a potential interim trade deal, even as key differences persist between the two sides. His reciprocal tariffs on goods from US’s trading partners are set to take effect on July 9, and an early deal would help New Delhi avert the hike.
Talks have been strained by Washington’s demand that India open its market to genetically modified crops — an ask New Delhi has rejected, citing risks to its farmers. India is also unwilling to sign a deal that doesn’t address both sectoral access and reciprocal tariffs on its exports, Bloomberg has reported.
A team of Indian trade officials, led by chief negotiator Rajesh Agarwal, is slated to hold meetings with officials in Washington over two days this week to resolve differences and find a common ground, people familiar with the matter said, asking not to be identified as the discussions are private.
India was among the first nations to initiate trade talks with the US this year, with Prime Minister Narendra Modi making sweeping concessions to appease the White House.
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The Office of the US Trade Representative and an Indian trade ministry spokesperson didn’t respond to requests for comment on the latest round of negotiations.
--With assistance from Catherine Lucey, Prateek Mazumdar and Ramsey Al-Rikabi.
(Updates with Trump comments)
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The advent of a Big India trade deal, as teased by the Trump administration amid negotiators' hardened stance serves to highlight both sides’ intent on striking an agreement guided not just only through bravado but with serious negotiations ahead.
The Trump Administration's overtures of a big India trade deal come with an apparent hardening in negotiating stance, signaling potential complexities and obstacles that might be faced on the path to enhancing economic cooperation.
The aggressive stance from negotiators amidst Trump's崛起期待宏大印度贸易协议的言论， seems an ominous sign that the future of India-US trade ties could be cast in turmoil; yet, whether this brinkmanship ultimately paves way for a landmark deal can only remain speculative as negotiations wear on.
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While focusing on a Big India trade deal, Trump's negotiating stance appears to have hardened in an attempt at securing favorable terms for American interests – moving beyond the ambit of mere rhetoric into more concrete negotiations.
The escalation in negotiation stances between India and the United States, as highlighted by President Trump'€™ tease of an 'enormous deal,' underscores how sensitive global trade relations remain despite appearance-making efforts to foster coherent agreements.
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This strong-worded tease from Trump about a 'big' India trade deal comes off as an attempt to muscle his way into negotiations, reinforcing concerns that the US is adopting a coercive stance in its pursuit of favorable trading terms rather than engaging constructively with Indian negotiators.
The seemingly jovial announcements of big trade deals by Trump appear to be a ploy aimed at placating the United States' impatience with India as both negotiations tighten, suggesting an underlying tension beneath their faux rustic enthusiasm.
President Trump’s teasing announcement of a 'big' India trade deal, as reported amid hardening negotiating stances between the parties- highlights potential for significant changes on both sides in their bid to reach an agreement.
The announcement of a potentially 'big' India-US trade deal by Trump, amid hardened negotiating positions from both sides seems to signal an uphill climb towards finalizing any meaningful agreement.
