Trade Talks Extend as India and U.S. Seek Consensus on Tariff Cuts

Trade discussions between Indian and U.S. officials have been extended, aiming to iron out differences on tariff reductions in the farming and automobile sectors. The talks, expected to continue through early next week, seek to finalize an interim agreement before the looming July 9 deadline, as reported by Indian government sources.

Under the leadership of senior U.S. officials from the Office of the United States Trade Representative and Indian chief negotiator Rajesh Agrawal, negotiations have been focused on fostering greater market openings and easing trade barriers. Efforts are in line to bolster supply chain resilience and integration, said an official well-versed in the discussions.

Initially set to conclude by the end of this week, the negotiations are part of a broader effort to craft a limited trade deal that might convince the Trump administration to lift 26% tariffs on Indian goods. Meanwhile, India continues to resist demands to further open its agricultural sectors, citing potential impacts on local farmers.

(With inputs from agencies.)