Priyanka Tiwari
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An official from New Delhi said that India will kick off trade talks with the US by sectors on Monday. This comes after the country seeks to make use of the three- month halt on extra tariffs put by ex-President Trump.
Bloomberg News was informed by a knowledgeable senior official that the talks would be held virtually starting this Wednesday. The expectation is to reach a consensus on the areas which both sides could make concession by the end of May. Indian media was the first to bring this news to light on Monday.
US and India had an agreement during Modi’s visit to the White House to complete the first part of the trade deal within fall . This was however after the US placed reciprocal tariffs of 26 % to India which was passed on April 2 and later put a 90 day exemption for some countries including India.
The Indian official claimed there is not much concern from New Delhi regarding these tariffs. The focus for both sides is to come up with realistic objectives for these trade negotiations.
India’s departamentos of commerce has not replied to the media on any of the new updates.
As previously reported, the Indian government is optimistic that a tentative deal with the Trump administration will be completed in 90 days if both sides put forward reasonable compromises.
Furthermore, India recently updated its customs obligations, lowering import taxes on nearly 8,500 categories of industrial goods, including American bourbon whiskey and Harley Davidson motorcycles, which were earlier cited by the U.S. as high-priority trade issues.
Moreover, they are assessing requests from the U.S. aimed at reducing tariffs on agricultural goods. However, agriculture is still an exceptionally delicate area regarding Indian politics.
