New Delhi, Oct. 5 -- India and the US appear to have reached a plateau in negotiations for a trade agreement, with further concessions from either side likely to be difficult, Union Finance Minister Nirmala Sitharaman said.

"The agreement negotiations are still ongoing, although we would like to believe both sides have reached a plateau beyond which giving or taking might be very, very difficult," Sitharaman said at the Munich Leaders' meeting in New Delhi.

Further progress remained possible if both sides found room for negotiation, she added.

US Trade Deficit Remains Key Issue

Sitharaman said the US remains concerned about its trade deficit with India and is increasingly using tariffs alongside negotiations to address such imbalances...