New Delhi [India], July 10 : India and the United States have stepped up their trade talks, with both sides actively engaging in virtual discussions.
The government sources toldthat an Indian trade delegation will revisit Washington DC soon for in-person negotiations aimed at finalising a trade deal.
Sources familiar with the matter also said that besides in person meetings, Indian officials have also been engaged in several virtual meetings with their US counterparts in recent weeks.
These meetings have helped set the stage for more detailed and comprehensive face-to-face talks. The upcoming visit by the Indian delegation is seen as a major step forward in advancing discussions on a possible trade agreement.
The talks are focusing on both a broad-based trade agreement as well as targeted trade arrangements that could help resolve key issues between the two countries.
The ongoing dialogue reflects a serious effort by both sides to deepen trade ties and reduce friction on trade-related matters.
The discussions gained momentum after US President Donald Trump, who returned to office earlier this year, announced a tariff policy targeting countries with trade surpluses against the United States. India was among the countries likely to be affected by the proposed tariffs on exports to the US.
However, the tariff implementation, initially planned for April, was paused for 90 days and later extended until August 1. This extension has provided both countries extra time to negotiate and try to reach on a mutually beneficial agreement.
Officials said that the current round of discussions is critical, and the Indian delegation's visit could play a key role in finalising the deal before the extended deadline.
Meanwhile the Donald Trump continues with his tariff policy as a tool to pressurize countries as on Wednesday, he announced a new list of tariffs targeting 14 countries.
Products from Algeria, Libya, Iraq, and Sri Lanka will face a 30 per cent tariff, while Brunei and Moldova will see a 25 per cent tariff. Goods from the Philippines will attract a 20 per cent tariff. Brazil has been hit the hardest, with a steep 50 per cent punitive tariff, especially on copper.
On July 8, Trump shared letters sent to Japan's Prime Minister Shigeru Ishiba and South Korea's President Lee Jae-myung, stating that both countries would face a 25 per cent tariff from August 1.
He later confirmed that similar letters had been sent to Malaysia and Kazakhstan, which will also face 25 per cent tariffs.
According to the letters, Myanmar and Laos will face a 40 per cent tariff, while Indonesia will be subject to a 32 per cent tariff. Imports from Thailand and Cambodia will be taxed at 36 per cent, and from Bangladesh and Serbia at 35 per cent.
South Africa and Bosnia and Herzegovina will see 30 per cent tariffs, and Tunisia will face a 25 per cent rate.
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