US Trade Rep: US-India Trade Deal Not ‘Imminent’ After Modi-Trump Call

The signal here is procedural, not directional: Washington says the obstacles are already identified, which shifts the story from whether a deal is possible to whether the political will exists to close it. For market participants tracking tariff exposure and supply-chain diversification into India, the absence of an imminent timeline means existing arrangements remain the working assumption for now. The open question is whether the two sides convert a completed technical review into a political announcement, or let it drift.