(Jan 12): US and India are close partners and will resolve their differences, including over a long delayed trade deal, said Sergio Gor, the new US ambassador to India appointed by President Donald Trump’s administration. Officials from the two nations are scheduled to talk about the deal in a call on Tuesday, he added. Washington has targeted India with tariffs of 50% — among the highest in the world — partly over its purchases of Russian oil. India remains one of the last major economies without a trade deal with the US despite months of negotiations and multiple phone calls between Trump and Indian Prime Minister Narendra Modi. New Delhi is also miffed by comments from US Commerce Secretary Howard Lutnick’s last week suggesting the trade deal failed to materialise as Modi did not call the president to seal the pact.

Source: The Edge Markets January 12, 2026 08:47 UTC