India says trade discussions with US ‘positive’ and ‘forward-looking’
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The US imposed punitive tariffs on India over its purchases of Russian oil, as part of Washington’s pressure campaign on Moscow over its invasion of Ukraine.
PHOTO: REUTERS
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- India and US trade talks on Sept 16 were "positive" and aimed to achieve a "mutually beneficial Trade Agreement".
- Talks stalled previously due to India resisting US demands to open its agriculture and dairy markets.
- Trump imposed 25% tariffs on Indian imports in August amid pressure on Moscow over the Ukraine invasion.
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NEW DELHI – Trade discussions between Indian and US officials on Sept 16 were “positive” and “forward-looking”, New Delhi said, after US President Donald Trump struck a more conciliatory tone following punitive tariffs on India
A US delegation led by the assistant US trade representative for South and Central Asia, Mr Brendan Lynch, met Indian trade officials headed by chief negotiator Rajesh Agrawal in New Delhi.
“It was decided to intensify efforts to achieve (the) early conclusion of a mutually beneficial trade agreement,” India’s Commerce Ministry said, without giving details.
Talks covered bilateral trade ties, including a possible India-US trade deal, it added.
Both sides are expected to hold a formal sixth round of trade negotiations.
But it was not immediately clear whether New Delhi would meet the Trump administration’s demand to cut Russian oil purchases or open its agriculture and dairy sector to US companies, a major demand in the negotiations.
Mr Trump in August imposed a 25 per cent punitive levy on Indian imports from Aug 27, doubling overall tariffs to 50 per cent, as part of Washington’s pressure campaign on Moscow over its invasion of Ukraine.
A planned US delegation visit to New Delhi from Aug 25 to 29 was cancelled after talks stalled, with India resisting US demands to open its vast farm and dairy markets.
India’s exports to the US fell to US$6.86 billion (S$8.7 billion) in August from US$8.01 billion in July, Trade Ministry data showed on Sept 15.
Exporters have warned that the full impact of higher tariffs would be felt from September, when the new duties took effect. REUTERS
