Stalled Trade Talks: US Delegation Cancels India Visit Amid Rising Tariff Tensions
The cancellation of a U.S. trade delegation's visit to India has delayed talks on a trade agreement, prolonging tariff tensions. U.S. tariffs on Indian goods rise soon, following India's Russian oil imports. The disagreement halts negotiations on India's farm and dairy sectors and oil purchases.
The planned visit by U.S. trade negotiators to New Delhi from August 25-29 has been canceled, according to a reliable source. This development delays discussions on a proposed trade agreement and diminishes expectations of relief from additional U.S. tariffs on Indian imports starting August 27.
The negotiations for the potential bilateral trade agreement are now postponed indefinitely, as per an insider. The U.S. embassy in New Delhi refrained from providing further details, indicating the talks are under the purview of the United States Trade Representative (USTR).
India's Ministry of Commerce failed to respond immediately to a query from Reuters. The talks met an impasse after disputes on India's agricultural sector access and its Russian oil procurement. Meanwhile, India's Foreign Ministry argues it is unfairly targeted for purchasing Russian oil, highlighting the U.S. and EU's continued trade with Russia.
(With inputs from agencies.)
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