India likely to secure trade deal with US on July 8, consensus made on all terms
The much awaited trade deal between India and the US can be announced as early as July 8 with consensus made on all terms. An Indian team, led by chief negotiator and Special Secretary in the Department of Commerce Rajesh Agrawal, is in Washington to finalise the talks.
Meanwhile the US has suspended 26 per cent levies on Indian imports till July 9 which was announced by Trump on April 2 to bridge the gap pertaining to trade. While the baseline tariff of 10 per cent still stays entact. India is seeking a complete exemption from the additional 26 per cent tariff.
Both India and the US are closely working towards a multi-sectoral and comprehensive first trance of Bilateral Trade Agreement latest by October this year.
Lately, trump signalled major trade deal with India very soon. He also asserted that his administration is looking forward to removing all the trade barriers which he described as unthinkable.
The trade deal between India and the US primarily focusses on key sectors such as agriculture, automobiles, industrial goods, and labour-intensive products.
Meanwhile India is seeking concessions for labour-intensive sectors like textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas in the proposed trade pact. The much awaited trade deal between India and the US can be announced as early as July 8 with consensus made on all terms. An Indian team, led by chief negotiator and Special Secretary in the Department of Commerce Rajesh Agrawal, is in Washington to finalise the talks.
Meanwhile the US has suspended 26 per cent levies on Indian imports till July 9 which was announced by Trump on April 2 to bridge the gap pertaining to trade. While the baseline tariff of 10 per cent still stays intact. India is seeking a complete exemption from the additional 26 per cent tariff.
Both India and the US are closely working towards a multi-sectoral and comprehensive first trance of Bilateral Trade Agreement latest by October this year.
Lately, trump signalled major trade deal with India very soon. He also asserted that his administration is looking forward to removing all the trade barriers which he described as unthinkable.
The trade deal between India and the US primarily focusses on key sectors such as agriculture, automobiles, industrial goods, and labour-intensive products.
Meanwhile India is seeking concessions for labour-intensive sectors like textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas in the proposed trade pact.
- PTC NEWS
