An American team has reached India before the April 2 deadline given by US President Donald Trump over tariffs on India. This team will hold an important meeting with Indian officials to finalize the first phase of the trade agreement with the Trump administration. The meeting is scheduled to begin on Wednesday, 26 March.
According to the Times of India report, the two countries will discuss the completion of the first part of the trade agreement from September-October. Trump had recently threatened to increase import duty on India, after which this step has been taken. The US team aims to resolve mutual trading issues and reduce tariff disputes.
According to the report, the outline of the agreement and the time limit will be fixed in this negotiation, which is likely to be implemented in two stages. A team led by Brendon Lynch, Assistant Representative of South and Central Asia Affairs of the US Trade Representative (USTR), will hold a meeting with Additional Secretary, Indian Commerce Department Rajesh Aggarwal. The purpose of this dialogue is to complete the first phase of the agreement by September-October.
Emphasis on tariff cuts in the first phase
Although the negotiations are currently in the early stages, the focus can be focused on cuts (tariffs) by both countries in the first phase. US President Donald Trump is pressurizing luxury cars, electric vehicles, whiskey and agricultural products to reduce tariffs in the Indian market. By the end of this week, when the three -day dialogue ends, it is expected to have more clarity. Trump has fixed the deadline for imposing “counter tariff” from April 2, which he is now calling ‘Mukti Day’. However, it is not clear whether the US will increase the tariff during dialogue.
Emphasis on increasing business and investment
A spokesman for the US embassy said, “We value the ongoing dialogue with the Government of India on business and investment matters and expects these discussions to be carried forward with creative, justified and far -reaching approach.” Indian officials are silent on the benefits of this agreement, but an official said that this trade agreement would bring stability to tariffs and rules and promote economic integration. “A strong trade agreement can open new possibilities for bilateral trade and investment,” he said. Last month, during Prime Minister Narendra Modi’s visit to Washington, India and the United States set a target of starting bilateral trade talks and taking trade by 2030 to $ 500 billion.
Trying to strengthen the supply chain
The official statement said, “According to the instructions given by the leaders of the two countries, India is committed to cooperation in trade and economic fields with the US. This cooperation will help in promoting the prosperity and innovation of both countries and deepening the integration of the supply chain. We expect useful and creative discussion with the American delegation, so that our bilateral trade and economic relations can be exposed to the beneficial ways.” Till now the conversation was taking place through virtual medium, but this will be the first time that the officials sit face to face and discuss the issue. However, the formal dialogue will begin only when the outline of the talks and process will be agreed this week.
