Team of US officials may visit India to negotiate trade agreement, deal to be done by July
Tariff Deal: A team of US officials may visit India in the coming weeks for the next round of discussions on the proposed interim trade agreement between India and the US. This information has come to the fore, quoting a source. Let us know more about this in detail.
A delegation of US officials can potentially visit India in the next few weeks to hold the next round of talks over the proposed interim trade deal between India and the US. This has come to light, citing a source.
This US delegation visit assumes significance since India and the US might finalize an interim trade pact by July 9. During this discussion, New Delhi has been seeking an outright exemption from 26 percent mutual tariff imposed on local merchandise.
"The US team is expected to visit India for trade talks. The talks are progressing at a fast pace," a source said. India's chief negotiator, Special Secretary in the Department of Commerce Rajesh Aggarwal, completed his four-day visit to Washington last week. He held talks with his US counterpart on the proposed agreement.
Commerce and Industry Minister Piyush Goyal was also in Washington last week to speed up trade talks. During his visit, he met US Commerce Secretary Howard Lutnick twice.
The US had imposed an additional reciprocal duty of 26 per cent on Indian goods on April 2, but later deferred it for 90 days till July 9. However, Indian goods still attract the 10 per cent baseline duty imposed by the US.
