The team of Indian negotiators is ready to visit Washington for the next round of interviews with American officials on the proposed business agreement in India-USA, the report said on Thursday.
According to the PTI report, the team of the Ministry of Trade will visit the US capital to continue commercial interviews and inks the agreement as soon as possible, as it is 9 July.
According to the cited PTI, the negotiations will take place in the continuous and first phase of the bilateral trade agreement in India (BTA) during this visit.
The date for other business interviews in India-USA has not yet been set. However, the official sources of the quoted PTI said officials would fly to the country sometime next week.
This comes when Donald Trump threatened BRICS nations, including India, with another 10 % tariff at the beginning of this week, describing them as an “anti -American”.
The Indian team led by the main negotiator Rajesh Agrawal returned at the beginning of this month after interviewing the immediate trade agreement of India-USA.
Why is India-USA’s business agreement important?
In April, India was slapped with a 26 % tariff on its import to the US by the government of Donald Trump. Before the Trump’s tariffs, the President announced a three-month pause-Termin, which was supposed to end on July 9.
Trump, however, extended the date for the introduction of tariffs to August 1 at the beginning of this month.
Meanwhile, he sent tariff letters to at least 22 countries facing up to 50 % of doses. The new Trump tariffs will come into force on August 1.
India must still receive such a letter and in India-USA business conversations assume meaning in such a scenario.
On Thursday, Rajesh Agarwal said India was trying to negotiate and complete a business agreement with the US.
The aim is to close the first phase of this pact in the autumn (September-October) this year. Previously, both countries are trying to complete the interim trade agreement, said Agarwal, who is also a special secretary of the Ministry of Commerce.
Previously, the official said that certain problems still persist in business interviews in India and the US.
“The Indian team is back from Washington. Negotiations will continue. There are some problems that need to be solved in agriculture and automatic sectors,” PTI said.
India has caused problems above 25 % of automotive duties. The matter took the Committee for Warranty of the World Trade Organization (WTO).
India also reported WTO that it reserves the right to store retaliation for selected US products in response to American steel and aluminum tariffs.
(Tagstotranslate) Indian team (T) Visit Washington
