India-US Trade Deal Update: US Chief Trade Negotiator Brendan Lynch has arrived in New Delhi with his team for what could be a sixth round of talks to finalise the terms of a potential trade deal between the world’s largest and fifth-largest economies. The development comes roughly a fortnight after the United States’ additional 25 per cent duty on Indian goods took effect, taking the total tariff to 50 per cent, over India’s Russian oil purchases.
Both sides have since expressed hope that a US-India trade deal may be finalised by the end of the year. India has already clarified its stance against the West’s criticism of its oil purchases from Russia, describing it as “unjustified and unreasonable” as Western countries themselves continue substantial trade with Russia in energy and other goods.
India-US Trade Talks On | Discussions to be held on finalising issues related to the trade deal
The upcoming discussions on the matter are expected to iron out various issues related to the trade deal.
Add Zee Business as a Preferred Source
The talks mark a significant breakthrough given the United States’ continued statements on trade, tariffs and a bilateral trade agreement (BTA).
Sources said that a framework on the talks may be prepared on Tuesday itself for the 6th round of trade deal discussions.
The Indian side wants to understand America’s clear stance on the statements made so far, they said.
ALSO READ: India-US trade deal not far away, says Sergio Gor amid ongoing negotiations | India US Trade Deal: Negotiations may resume soon; PM Modi, Trump hopeful of resolving barriers
US-India Trade Deal | A full day of discussions likely as US Chief Trade Negotiator arrives in New Delhi
Discussions are likely to be lined up throughout the day, covering a host of critical issues, including aluminium, steel, crude oil, aircraft components and engines.
Officials from the Commerce and Industry Ministry and other departments under the Narendra Modi administration are likely to participate in the meeting.
This will be the first discussion since the proposed bilateral trade pact talks from August 25 to 29 were postponed, though dialogue between both sides continued through the Ministry of External Affairs (MEA) and other diplomatic channels.
It is also the first official discussion between both sides since the Trump 2.0 administration’s additional 25 per cent duty on Indian goods came into force.
According to sources, the aim of these meetings is to reduce any confusion or inconvenience.
India is expected to voice its concerns about the additional tariffs at the upcoming discussions.
Indian officials may also raise concerns about the United States’ repeated statements in this regard.
