Stalemate in India-US Trade Talks: Russian Oil Tariffs At Center Stage
Progress on the India-US trade deal hinges on Washington rolling back a 25% tariff linked to Russian oil. The Global Trade Research Initiative suggests slow negotiations unless the US shows flexibility. India's position on agriculture and dairy as livelihood issues remains firm amid ongoing talks.
- Country:
- India
The negotiations for a trade deal between India and the United States remain stalled, primarily due to a 25% tariff associated with Russian oil, as reported by the Global Trade Research Initiative (GTRI). These discussions, which resumed in New Delhi, require significant concessions from the US to progress meaningfully.
According to GTRI, the lack of movement in negotiations is expected to continue unless Washington demonstrates genuine flexibility. This sentiment is particularly pronounced given that agriculture and dairy, sectors critical to India's economy, are viewed by New Delhi more as livelihood matters than mere trade issues.
Amid the tensions, India's trade representatives persist in recording their objections and exploring legal avenues, including potential support for US businesses challenging these tariffs in the courts. The talks initially aimed at cultivating a fair and mutually beneficial Bilateral Trade Agreement since March are now overshadowed by these tariff disputes.
(With inputs from agencies.)
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