Top News

Washington : Indian team, headed by chief negotiator Rajesh Agarwal, has reached Washington for the next round of trade talks with his US counterparts. The visit is important as both the countries are engaged in negotiations for an interim trade deal and are trying to finalise the pact before July 9, though there are challenges in areas like agriculture and dairy. The Indian team is in Washington for two-day trade talks.

The high tariffs, announced by the US on April 2, were suspended by the Trump administration till July 9. On April 2, the US imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days. However, the 10 per cent baseline tariff imposed by America remains in place. India is seeking full exemption from the additional 26 per cent tariff.

Agriculture and dairy sectors are difficult and challenging areas for India to give duty concessions to the US. India has not opened up dairy in any of its free trade pacts signed so far. The US wants duty concessions on certain industrial goods, automobiles- especially electric vehicles, wines, petrochemical products, dairy, and agricultural items like apples, tree nuts, and genetically modified crops. India is seeking duty 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 two countries are looking to conclude talks for the first tranche of the proposed bilateral trade agreement (BTA) by fall (September-October) this year. The pact is aimed at more than doubling bilateral trade to $500 billion by 2030 from the current $191 billion. Before the first tranche, they are trying for an interim trade pact. The US team was here from June 5 to June 11 for the talks. The negotiations will continue both virtually and physically in the days to come.

Bhupendra singh chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur kiranhis insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.