US and India on the Brink: Trade Talks Forge Ahead Amid Tariff Tensions
The US and India are in ongoing negotiations for a bilateral trade agreement amid tensions over tariffs. Talks are aimed at securing an interim deal before August 1, 2023, as both countries navigate complex demands around duty concessions, particularly in agricultural and industrial sectors.
- Country:
- India
Negotiations between the United States and India are intensifying as both nations strive towards finalizing a bilateral trade agreement. The talks, set for the sixth round in late August, are crucial as the deadline for suspending tariffs looms on August 1. Key issues include duty concessions on agri and dairy products.
Despite the complexities, officials remain cautiously optimistic about an interim deal. The US Trade Representative, Jamieson Greer, emphasized the need for further negotiations, though a last-minute breakthrough remains possible. Continued dialogues have been acknowledged as constructive by both sides, with recent discussions convened in Washington.
The proposed trade pact seeks to address reciprocal tariffs, with India focusing on easing duties on sectors like steel and textiles, while the US aims for concessions on industrial and agricultural goods. As negotiations advance, India's merchandise exports to the US have seen a significant rise, reflecting the stakes involved.
(With inputs from agencies.)
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