India-US Trade Deal ‘Not Imminent’: Greer Says Talks Continue on Key Issues

US Trade Representative Jamieson Greer says India and the United States are approaching the end of negotiations on an interim trade agreement, but warned that a deal should not be expected immediately as officials continue working through unresolved issues and tariff uncertainties.

The India-US trade agreement is nearing another important stage, but Washington’s top trade official has cautioned that an announcement is not around the corner.

US Trade Representative Jamieson Greer said negotiations were in their final stretch and that both countries had identified the remaining issues holding up an interim agreement. At the same time, he said the deal was “not imminent.”

“We are in the short strokes. So I think we’re toward the end of it,” Greer said, while adding, “At the same time I don’t think there’s something imminent.”

His comments came after discussions with Commerce and Industry Minister Piyush Goyal during the G20 Trade Ministers’ Meeting in Milwaukee.

Greer says negotiators know what the sticking points are

Greer indicated that the two sides have narrowed down the areas where differences remain.

“We truly have identified the universe of items that are sticking points. We are working diligently toward them,” he said.

He described his discussion with Goyal as “very constructive” and said officials from both countries were continuing to work on the negotiations.

“Minister Goyal and myself, our staff is meeting right now,” Greer said. “Since they are in the country and we are here, we are continually trying to finish the trade deal with India.”

The comments suggest that the negotiations have moved beyond identifying broad areas of disagreement and are now focused on resolving specific outstanding issues.

Goyal also pushes for an interim agreement

Goyal’s assessment after the meeting was similarly focused on moving the negotiations forward.

The Indian minister described the discussions as “productive” and said they were aimed at the early conclusion of a mutually beneficial interim agreement under the broader India-US Bilateral Trade Agreement framework.

The use of an interim arrangement is significant because it would allow the two countries to make progress on an initial package of trade issues while negotiations on the wider agreement continue.

Modi and Trump could speak again soon

The trade discussions have also been accompanied by direct engagement between the political leadership of the two countries.

Greer’s comments followed a telephone conversation between Prime Minister Narendra Modi and US President Donald Trump.

According to the supplied reporting, the leaders discussed bilateral cooperation in areas including:

• Trade
• Defence
• Energy
• Critical technologies
• Other areas of mutual interest

Greer described the leaders’ conversation as “very constructive” and suggested another call could take place soon.

“My sense is that the president, the prime minister may have another call very soon on this just to assess progress and where we are,” Greer said.

Any further leader-level discussion would come as negotiators continue to address the remaining issues in the proposed agreement.

Why the trade negotiations remain complicated

The negotiations are taking place against a changing US tariff environment.

That has introduced additional uncertainty for businesses and policymakers trying to assess the final structure of the agreement.

India and the US are negotiating not only market access but also the tariff conditions under which companies from both countries will compete.

For Indian exporters, the relative treatment of Indian products compared with suppliers from other countries is an important consideration.

For Washington, issues involving market access, domestic industries, supply chains and trade policy remain part of the broader negotiation.

Russian energy purchases add another layer of uncertainty

Another issue highlighted in the supplied material is the possible effect of US measures involving countries that continue to purchase Russian energy.

The material says President Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 on September 18 and that the legislation provides for possible tariffs of up to 100% on imports from countries meeting specified criteria concerning purchases of Russian crude oil or natural gas.

India is a major buyer of Russian crude, making the potential implications of such measures particularly important for New Delhi.

The precise application of any such tariffs would depend on the law, implementing measures and the circumstances covered by the legislation.

For businesses, the uncertainty itself can complicate export planning and investment decisions.

India is also facing other US tariff measures

The supplied material points to additional US trade measures affecting India.

One involves Section 301 and allegations concerning the use of inputs made with forced labour in goods manufactured for export.

Another Section 301 investigation concerns excess industrial capacity associated with government subsidies.

If additional tariff measures emerge from these processes, they could become another factor in the broader trade negotiations.

It is therefore important to distinguish between existing measures, ongoing investigations and potential future tariffs. A probe does not automatically mean that additional tariffs will be imposed.

Why tariffs matter to Indian exporters

Tariffs directly affect the cost of goods entering a market.

For an Indian exporter, a higher US tariff can make a product more expensive for American buyers unless the additional cost is absorbed somewhere along the supply chain.

That can influence competitiveness against suppliers from other countries.

This is one reason Indian officials have emphasised the need for a trade framework that provides Indian businesses with a competitive position.

The final outcome will depend on the specific tariff schedules and sector-by-sector provisions eventually agreed by the two governments.

Goyal’s US visit focuses on trade discussions

Goyal is in the United States from September 29 to October 5, according to the supplied information.

His schedule includes participation in the G20 Trade Ministers’ Meeting as well as bilateral discussions with US officials.

The timing gives negotiators an opportunity for direct engagement while both sides are already conducting high-level meetings in the same location.

Such discussions can help narrow disagreements, although they do not necessarily mean that a final agreement is immediately ready to be signed.

What is the India-US Bilateral Trade Agreement?

The proposed Bilateral Trade Agreement (BTA) is intended to deepen commercial ties between India and the United States.

The negotiations cover a broad range of subjects relating to trade between the two economies.

An interim agreement would represent an initial stage within that broader process.

The final architecture of the BTA will depend on what the two sides ultimately agree on across tariffs, market access and other trade-related issues.

Why the interim deal matters for businesses

Even a limited agreement can provide businesses with greater clarity.

Exporters need to know the tariff conditions under which they will sell products.

Manufacturers planning new facilities want visibility over future market access.

Importers need to understand how duties will affect supply-chain costs.

Long-term investors also consider trade rules when deciding where to locate production.

An interim deal could therefore reduce some uncertainty even if negotiations on the broader BTA continue.

Negotiations are close, but the final stage may be difficult

Greer’s remarks provide an important distinction between being near the end of negotiations and having a completed agreement.

The negotiators have identified the remaining sticking points, according to the US Trade Representative.

But those final issues can be among the most difficult because they may involve sectors or policies that each government considers strategically important.

This is why Greer said that the agreement was not imminent even while describing the talks as being in their final stretch.

What businesses should watch

Several developments will be important over the coming weeks.

Interim agreement: Whether India and the US reach a formal initial trade package.

Tariff treatment: Which products receive changes in duties and under what conditions.

Russian energy provisions: Whether measures concerning purchases of Russian oil or gas affect India’s exports to the US.

Section 301 proceedings: Whether the ongoing investigations lead to additional trade measures.

Competitive access: How Indian exporters compare with suppliers from competing economies.

Implementation: How quickly any agreed provisions are translated into enforceable trade rules.

The Modi-Trump conversation adds a political layer to the negotiations

Trade agreements involve extensive technical negotiations, but major differences can ultimately require political direction.

The possibility of another Modi-Trump call suggests that both governments continue to monitor the state of the discussions at the leadership level.

However, a leaders’ conversation would not by itself complete the agreement.

Negotiators would still need to settle the outstanding provisions and complete the formal processes required by both governments.

The current position in one sentence

India and the United States appear to have moved into the final phase of discussions, but the trade deal remains unfinished and Greer has explicitly cautioned that an immediate announcement should not be expected.

That leaves businesses watching two developments at the same time: progress toward the interim BTA and the wider US tariff environment.

What happens next for the India-US trade talks?

The immediate focus will remain on the unresolved issues identified by the negotiators.

Goyal’s bilateral discussions in Washington, continued staff-level talks and any further conversation between Modi and Trump could shape the next stage.

But until the two sides formally resolve the remaining differences, the final terms and timing of an interim agreement remain uncertain.

The India-US trade negotiations are closer to the end than the beginning, according to Jamieson Greer, but the latest message from Washington is that “not imminent” remains the more accurate description of the deal’s timing.