Story perspectives

U.S. Trade Deal With India Not Imminent, Greer Says

By Drooid · Oct 2, 2026, 4:45 PM UTC · How we work

Summary

Story summary

U.S. Trade Representative Jamieson Greer said a trade deal with India is not imminent.
Indian Foreign Secretary Vikram Misri warned a U.S. delegation that SRIA could impose 100 percent tariffs on nations buying Russian oil.
India remains a major buyer of Russian crude, so tariffs could raise its energy costs and affect supply.
Commerce Minister Piyush Goyal met Greer in Milwaukee to discuss an interim India-U.S. trade agreement.

History

Historical Context

From the 1990s the United States became one of India’s major investors, with FDI rising from $11 million in 1991 to $344 million by 2004 and bilateral trade reaching $119.42 billion in 2021-22. After President Donald Trump’s 2025 tariff threats and a February 2026 pact tying India’s halt of Russian oil purchases to lower U.S. duties, officials now warn that renewed U.S. measures could raise tariffs on Russian oil.

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Story summary

U.S. Trade Representative Jamieson Greer said a trade deal with India is not imminent.
Indian Foreign Secretary Vikram Misri warned a U.S. delegation that SRIA could impose 100 percent tariffs on nations buying Russian oil.
India remains a major buyer of Russian crude, so tariffs could raise its energy costs and affect supply.
Commerce Minister Piyush Goyal met Greer in Milwaukee to discuss an interim India-U.S. trade agreement.

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