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India-US trade deal being ‘papered’: Trump trade representative Jamieson Greer echoes Goyal's remarks
US Trade Representative Jamieson Greer said that the details and specifics of the deal are in place but it still being finalisied.
Day after announcing a trade deal between India and the US, the Trump administration has stated that the exact details of the deal is still being “papered". Speaking to CNBC on Tuesday, US Trade Representative Jamieson Greer said that the details and specifics of the deal are in place but it still being finalised.
"We'll finish papering it, but we know the specifics, we know the details," Greer said, adding that India is maintaining some protection around agricultural goods.
Earlier today in a press conference, Union commerce minister Piyush Goyal hailed the trade deal between India and the US and stated that it is in its final stages.
“We will be shortly issuing a joint statement by both countries along with the details, which we will be shortly inking between the United States of America and India. And as soon as the final understanding of the deal is inked, and the joint statement is finalised, technical processes are completed, full details will be shared” said Goyal.
India-US announce trade deal
US President Donald Trump took to Truth Social on Monday night to announce that Washington and New Delhi have finalised a trade deal, which would also see the tariffs on India lowered from 50 per cent to 18 per cent.
“When two large economies and the world’s largest democracies work together, it benefits our people and unlocks immense opportunities for mutually beneficial cooperation,” Modi said, confirming the deal with the US.
While the details of the trade deal are yet to be shared, as per Trump's social media post, India has agreed to stop its purchase of Russian oil, which triggered the additional 25 percent tariff levy on India.
However, reacting to the deal announcement, Kremlin has stated it is yet to receive an official word from India regarding this so-called halt in purchase.
In his Truth Social post, Trump added that the goes beyond tariff cuts. He described it as a concluded trade deal under which India would reduce its tariffs and non-tariff barriers against US goods to zero and commit to buying more than $500 billion worth of American energy, technology, agricultural products, coal and other goods.
