India and the United States will hold a day-long talk on the India-US bilateral trade deal in New Delhi on Tuesday, which was impacted after the imposition of 50 per cent import tariffs by the US on Indian goods. The meeting comes days after Prime Minister Narendra Modi warmly reacted to US President Donald Trump's positive assessment of trade ties between the two countries.
Five rounds of negotiations for the India-US bilateral trade agreement (BTA) have been held, and the sixth round of talks, scheduled from August 25-29, was postponed following the imposition of 50 per cent tariffs on Indian goods by the US.
India, US trade deal
The US side will be led by Brendan Lynch, Trade Representative for South Asia and Central Asia, while India will be represented by senior Commerce Ministry official Rajesh Agarwal during the negotiations.
Lynch oversees the development and implementation of US trade policy with regard to 15 countries in the region, including management of the US-India Trade Policy Forum (TPF) as well as coordination of activity under Trade and Investment Framework Agreements (TIFAs) with regional partners.
"We have indicated that in the past, also the discussions are going on, the chief negotiator of the US is visiting India tonight and tomorrow will be holding talks to see what can be the picture. It is not the sixth round of negotiations, but it is definitely discussions on the trade talks and trying to see how we can reach an agreement between India and the US," Rajesh Agarwal, India's chief negotiator and a special secretary in the commerce ministry, said here on Monday.
PM Modi reacted warmly to Trump's positive assessment of trade talks
Prime Minister Narendra Modi last week welcomed US President Donald Trump's positive remarks on trade talks, expressing optimism that the ongoing negotiations will pave the way for unlocking the limitless potential of the partnership between them.
After weeks of tension sparked by Trump's sharp rhetoric and the imposition of 50 per cent tariffs on India, relations between the two countries appear to be easing. This marked the second recent instance where Trump coupled his praise for Modi with comments on strengthening bilateral ties, to which Modi responded warmly.
The Trump administration has imposed 50 per cent tariffs on India, including 25 per cent for Delhi's purchases of Russian oil, among the highest imposed on any country in the world. India has described the US action as "unfair, unjustified and unreasonable".
Defending its purchase of Russian crude oil, India has been maintaining that its energy procurement is driven by national interest and market dynamics.
(With PTI inputs)
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