India-US Trade Talks: A Step Towards a New Bilateral Trade Agreement
India and the US completed a fifth round of trade talks in Washington, aiming to finalize an interim trade deal before August 1. Key issues like tariffs on agriculture, automobiles, and industrial goods were discussed. Both countries aim to conclude a full bilateral trade agreement by fall.
- Country:
- India
The fifth round of negotiations for the proposed bilateral trade agreement (BTA) between India and the US concluded in Washington on July 17, after four days of detailed discussions. Led by India's chief negotiator, Rajesh Agrawal, the talks are crucial as both nations strive to finalize an interim trade deal before early August.
During these negotiations, significant topics were addressed, including tariffs on agriculture, automobiles, and the removal of additional duties imposed by the US. India seeks tariff reductions on labor-intensive sectors, whereas the US desires concessions on industrial goods and agricultural products. Both sides aim to reach a full agreement by fall.
India's merchandise exports to the US increased by 22.8% in the April-June quarter, reflecting the economic importance of these negotiations. As the suspension of Trump's tariffs nears its end, the stakes remain high for both countries to succeed in their trade dialogue.
(With inputs from agencies.)
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