New Delhi: The US stance on a trade deal with India appears to be softening, signaling positive developments for the ongoing negotiations between the two countries. According to Sergio Gore, the newly appointed US Ambassador to India, the next round of trade discussions is expected to begin on January 13. Gore, who took charge on Monday, emphasized that the relationship between India and the US is based on genuine friendship.
Friendship Over Differences
Ambassador Gore highlighted that “true friends may disagree, but they resolve their differences.” He described the ongoing trade talks as part of the strong trust-based relationship between Prime Minister Narendra Modi and US President Donald Trump. Despite existing differences over tariffs and market access, both sides are maintaining continuous engagement to move the trade discussions forward.
Positive Market Response
News of progress in India-US trade talks has positively impacted the Indian financial markets. During Monday’s trading session, the Sensex recovered sharply, reversing a 700-point loss. Earlier, the US had imposed a 50% tariff on India, and a recently approved bill by President Trump suggested 500% tariffs on countries purchasing oil from Russia, which had triggered a significant market decline last week. The Sensex had fallen nearly 2,200 points, while the Nifty dropped 2.5%.
Ambassador Gore’s statements indicate a hopeful environment for resolving trade issues and strengthening the strategic and economic partnership between India and the United States.
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