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Union Commerce Minister Piyush Goyal on Saturday said that discussions on a trade deal between India and the United States were progressing in a “cordial atmosphere”, though he refrained from giving a timeline for its conclusion. Addressing a press conference, Goyal said the negotiations were moving forward constructively and emphasised that free trade agreements were not bound by deadlines but by national interest. His comments come amid reports of heightened trade tensions following US President Donald Trump’s steep tariff hikes on imports from India, among the highest globally.

Responding to a question about Trump’s tariffs and when India could expect “good news”, Goyal said the government would inform the media once a decision had been reached. “I believe the talks are progressing in a very cordial atmosphere, and I have said many times that free trade agreements or trade talks are never based on deadlines. There is no agreement unless we fully address the interests of the nation: India’s farmers, India’s fishermen, India’s MSME sector. The talks are progressing very well. The talks are ongoing and we will definitely inform you when we reach a decision,” the minister said.

Trump’s administration has imposed a 50 per cent tariff on imports from India, one of the highest in the world. This includes a 25 per cent base tariff attributed to what the US President describes as a “trade imbalance”, and an additional 25 per cent in response to India’s continued purchase of Russian oil amid the ongoing conflict in Ukraine.

Despite Trump’s often unpredictable remarks, the Modi government has maintained a measured tone. The two leaders, who Trump has previously described as “great personal friends”, continue to engage diplomatically even as trade negotiations remain complex.

An Indian delegation is currently in Washington for the sixth round of talks, which began in April but were paused in August following Trump’s renewed tariff threats.

Meanwhile, US Treasury Secretary Scott Bessent has identified India as a key partner in what he termed a “China versus the world” contest over rare earths, minerals crucial to multiple high-tech sectors and of which China currently controls about 80 per cent of global supply.