Piyush Goyal calls report of India-US trade deal deadlocked 'false, baseless and misleading', says talks underway

Union minister Piyush Goyal on Monday dismissed reports of a stalemate in trade talks between India and the US, calling them completely false, baseless and misleading. He further specified that negotiations between the two countries are still ongoing.

In a post on social media platform X, Goyal was reacting to a Reuters news agency report that India had rejected a fast-track trade deal with the US in recent talks and was waiting for a better deal.

“These reports are completely false, baseless and misleading,” X said in the post.

Goyal says India and the US remain committed to a trade deal

The Secretary of Trade and Industry said that during the visit of US Trade Representative (USTR) Jamieson Greer in June this year, he held “fantastic meetings” with the US Trade Representative in New Delhi and reiterated that the two countries remain committed to a balanced and mutually beneficial trade agreement.

“I had fantastic meetings with USTR Jamieson Greer when he visited Delhi in June. Both sides reaffirmed their commitment to an agreement that is balanced, makes commercial sense and delivers tangible benefits for businesses, farmers, workers and consumers in both countries,” Goyal said.

“Our teams remain fully engaged in achieving this goal,” he added.

Earlier this month, Goyal said talks on a bilateral trade deal between India and the US had entered the final phase, with most of the key issues resolved and both sides working on a deal that gives New Delhi a competitive edge over its rivals, according to media reports.

Commerce Minister Agarwal says negotiations remain on track

Goyal’s remarks are in line with earlier comments by Commerce Minister Rajesh Agarwal, who said there were no obstacles to a deal between the two nations, news agency ANI reported.

Briefing the media on the trade data for June 2026, Agarwal said, “We do not see any challenge in India-US trade deal negotiations.”

Briefing the media, the minister outlined recent engagements, noting that “the Indian team visited the US in May. The American team visited in June.”

He also added that “talks are taking place in the right framework”.

Turning to the broader trade environment, Agarwal acknowledged that the US tariff measures have created uncertainty for several trading partners. However, according to him, discussions between the two nations continue.

“The IEEPA tariff has disappeared…” he said. “Now they are dealing with other countries again. They are conducting parallel investigations,” he added. India is part of these discussions. “We have joined the consultations. Everything is moving in the right direction.”

Both sides maintained a positive public tone. “Both sides say things are good…” Agarwal said.

Regarding the status of the agreement, he said the framework of the agreement is complete. “The framework agreement between India and the US is ready. We are ready to sign. We are waiting for the right time,” he said, adding, “Things are being structured. We are progressing well.”

In terms of tariffs, the current 10% tariff regime is set to end on 24 July 2026, after its statutory 150-day period, unless extended or replaced by a new trade instrument.

(With inputs from ANI)