US Ambassador to India Sergio Gor declared that the "big items" in the bilateral trade agreement are settled, signaling a major breakthrough in talks that have dragged on for 18 months. Speaking at the Bloomberg New Economy Forum on Thursday, Gor emphasized the speed of progress, noting that India and the US announced a trade deal framework within three weeks of his arrival—a stark contrast to the nearly two decades it took to conclude the India-EU Free Trade Agreement in January. The US diplomat avoided disclosing specific terms, leaving final announcements to the ministerial level, but insisted the core issues are resolved.
External Affairs Minister S Jaishankar, speaking at the same forum, echoed this sentiment, confirming the two nations are "very close to landing it" and working through remaining differences. Jaishankar stressed that the core fundamentals of the strategic partnership remain intact, reinforcing the political will behind the economic negotiations. This synchronized messaging from both sides suggests the deal is no longer a distant possibility but an imminent reality.
Gor also addressed the contentious Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, signed into law by President Donald Trump on September 18. The legislation authorizes tariffs of up to 100 percent on countries purchasing Russian oil and gas, a provision that directly impacts India’s energy imports. When asked if India could receive sanctions relief, Gor stated it was a decision for the President, noting that no sanctions have been imposed yet and that Trump will make a determination within the next 10 days.
The White House is expected to announce its decision on sanctions relief soon, a development that could significantly influence the final terms of the trade agreement. Indian officials are closely monitoring this timeline, as any imposition of high tariffs would complicate the "mutually beneficial" framework both sides have been negotiating to finalize.