India and the United States are nearing an agreement on a trade deal, with most major issues reportedly settled, according to US Ambassador to India Sergio Gork. Speaking Thursday at the Bloomberg New Economy Forum in New Delhi, Gork indicated that the two countries were close to finalizing the framework for the pact, despite some new challenges emerging during the negotiations.

“The big picture, the big framework, the big items are done,” Gork said, adding that while most key points have been resolved, additional matters have arisen as discussions have progressed. He described this as a natural outcome of lengthy talks, especially given evolving technologies.

Gork’s remarks echo earlier comments from Indian External Affairs Minister S. Jaishankar, who expressed optimism about the trade negotiations this week, stating that both sides were “heading toward a landing point” after more than a year of discussions. This came in contrast to the more cautious tone of Indian Finance Minister Nirmala Sitharaman from a few weeks earlier, when she described talks as having reached a plateau. Similarly, US Trade Representative Jamieson Greer had acknowledged that negotiations were ongoing but emphasized that an agreement was not yet imminent.

One complication in the talks relates to recent US legislation granting President Donald Trump the authority to impose tariffs of up to 100 percent on buyers of Russian oil and gas. This measure, aimed at increasing pressure on Russia amid the conflict in Ukraine, affects multiple countries, including India. Ambassador Gork noted that the US and India are currently discussing the impact of this legislation, with Trump expected to make a decision on exemptions or adjustments “over the next few days.”

Gork emphasized that the US actions were not specifically targeted at India but were part of broader efforts to end the war in Ukraine. He acknowledged that India falls into a category of countries impacted by the new tariffs, along with several others.

As negotiations continue, both sides appear keen to resolve outstanding issues and complete the trade agreement, which could enhance economic ties between the two nations. However, evolving geopolitical factors and new legislative measures could influence the final terms and timeline of the deal.