Piyush Goyal calls India-US trade deal deadlock report ‘false, baseless and misleading’, says talks are on

Union Minister Piyush Goyal on Monday dismissed reports of a deadlock in the India-US trade talks, calling them completely false, baseless and misleading. He further clarified that discussions between the two countries are still ongoing.

In a post on social media platform X, Goyal responded to a report by news agency Reuters, which claimed that India had rejected a quick trade agreement with the US in recent talks and was holding out for a better deal.

"This news is completely false, baseless and misleading," he said in the X post.

Goyal says India, US remain committed to trade deal

The Commerce and Industry Minister said he had held "fantastic meetings" with US Trade Representative (USTR) Jamieson Greer during the latter's visit to New Delhi in June this year, reiterating that both countries remain committed to concluding 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, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both countries," Goyal said.

"Our teams remain fully engaged in achieving this objective," he added.

Earlier this month, Goyal said that the India-US bilateral trade agreement talks have entered the final stage, with most key issues resolved and both sides working towards a deal that gives New Delhi a competitive edge over its competitors, according to media reports.

Commerce Secretary Agarwal says negotiations remain on track

Goyal's remarks are in line with comments made earlier by Commerce Secretary Rajesh Agarwal, who said there are no hurdles in concluding the agreement between the two nations, news agency ANI reported.

Briefing media persons on trade data for June 2026, Agarwal said, "We don't see any challenge on India-US trade deal negotiations."

The Secretary, during the media briefing, outlined the recent engagement, noting that "the Indian team visited the US in May. The US team visited in June."

He also added that "talks are going on in proper framework."

On the broader trade environment, Agarwal acknowledged that US tariff actions have created uncertainty for several trading partners. However, he said discussions between the two nations are progressing.

"IEEPA tariff has gone..." he said. "Now again they are in discussion with other countries. They are having a parallel investigation," he added. India is part of those discussions. “We have joined consultations. All progressing in the right directions.”

Both sides have maintained a positive public tone. "Both sides saying things are good..." Agarwal said.

On the status of the deal, he said the framework of the deal is finalised. "India-US framework deal is ready. We are ready to sign. Right time is being awaited," he said, adding, "Things are getting structured. We are progressing well."

Regarding tariffs, the current 10% tariff regime is due to expire on 24 July 2026, after completing its statutory 150-day period, unless it is extended or replaced by a new trade instrument.

(With inputs from ANI)