A high-level trade delegation from the United States is set to arrive in India in the coming weeks for what could potentially be the final round of talks on an interim trade agreement between the two countries. Sources have indicated that the visit is crucial as both sides are racing against time to finalize the deal before July 9, when a temporary suspension on steep US tariffs expires.
India is pushing for a full exemption from the 26% reciprocal tariff imposed by the US on April 2, which is currently suspended for 90 days. Despite this suspension, Indian exports still face a 10% baseline tariff, and New Delhi is eager to have that lifted as well.
According to one official, negotiations between the two countries are progressing rapidly, indicating a sense of urgency on both sides. India’s chief negotiator, Rajesh Agrawal, recently returned from a visit to Washington where he engaged in direct talks with his US counterpart to outline the details of the interim agreement. Additionally, Commerce and Industry Minister Piyush Goyal was also in Washington for discussions.
The outcome of these talks will be closely watched by both countries as they navigate complex trade dynamics and strive to reach a mutually beneficial agreement. Stay tuned for updates on this developing story.
