India–US Trade Deal: Near the Finish Line—or Still a Long Way Off?

One report says the India–US trade deal is nearing its final stage; another says it is not imminent and that the two sides have yet to reach a final understanding. That is a wide gap between the headlines—and a reminder that optimism is not the same as a signed agreement.

The negotiations have been under way for months, according to the latter report. On Thursday, Commerce Minister Piyush Goyal said he had a productive discussion with US Trade...