India-US Trade Talks: Progress Towards Early Agreement
India and the US are progressing in negotiations for a trade agreement, aiming to conclude preliminary talks by July 9. Both nations' teams have been engaging in reciprocal visits to expedite discussions. The US has temporarily suspended a new 26% tariff on Indian goods until the negotiation deadline.
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The anticipated India-US trade agreement is steadily progressing, with both sides expecting to finalize an early tranche before July 9, as stated by a high-ranking official on Monday.
Commerce Secretary Sunil Barthwal expressed optimism about concluding the initial phase of the deal within the stipulated timeline, given the active exchange of delegations between the two countries.
The US had implemented a 26% additional tariff on Indian goods on April 2, though it's currently suspended for a 90-day period ending on July 9, while the baseline 10% tariff persists.
(With inputs from agencies.)
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