Priyanka Tiwari
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Suspense crime, Digital Desk : A group of US officials are anticipated to visit India in the coming weeks as part of the new round of discussions on the proposed interim trade agreement. The trip is expected to help resolve the pending tariff complications ahead of the July 9 deadline, as per sources.
As stated by one senior official:
“The US team is expected in India for trade talks. Negotiations are moving at a faster pace.”
Update on the Restrictions Related to India Soes
Complete exemption from the recently instituted 26% reciprocal tariff on Indian goods is being sought by India. The US imposed the tariff effective April 2, but it is currently on a 90 day suspension, expiring July 9.
Under the US trade framework, Indian exports continue to be subjected to a baseline 10% tariff. Any further reductions to these levels, below the Most Favoured Nation (MFN) threshold, would necessitate approval from the US Congress; although, the Trump administration could revoke the reciprocal tariffs without prior consent.
Upper level intercessors-go median deal est. 320 us paper.
Strengthening relations at the high level helps with diplomacy deal-making.
Special Secretary Rajesh Agrawal, India's chief negotiator, participated in a four-day working visit to Washington to meet with his counterpart for further negotiations.
Minister of Commerce and Industry Piyush Goyal also went to Washington and conducted two meetings with US Commerce Secretary Howard Lutnick in a bid to accelerate the talks.
Both sides now intend to complete the first phase of the trade agreement by Fall 2025 (September-October) but there are increasing expectations an interim agreement could be reached prior to that.
India-US Trade Relationship: Key Statistics
Trade exchange: USD 131.84 billion (2024–25)
Value of US exports to India: 18%
Value of US imports from India: 6.22%
India’s exports to the US: 10.73% of total
India continues to enjoy Trade Surplus with the US:
Financial Year
Trade Surplus (USD Billion)
2024–25 41.18
2023–24 35.32
2022–23 27.70
2021–22 32.85
2020–21 22.73
The US keeps bringing up the increasing deficit, which continues to be contentious in the discussions.
Bilateral Trade Goal: USD 500 Billion by 2030
The two countries agreed to an ambitious target of reaching USD 500 billion in bilateral trade by 2030. The proposed interim agreement is viewed as an important step towards establishing confidence for long-term economic partnership.
