 "'Positive & forward-looking': India on trade talks with US delegation")
India on Tuesday said that talks with the visiting US trade delegation were “positive and forward looking”.
Amid US President Donald Trump’s ongoing trade war on India, a delegation led by Brendan Lynch, the Assistant US Trade Representative for South and Central Asia, visited India and held talks with commerce ministry officials earlier in the day.
Indian and US officials discussed India-US trade ties, including the India-US Bilateral Trade Agreement under negotiation, according to a statement from the Ministry of Commerce and Industry.
“Acknowledging the enduring importance of bilateral trade between India and the US, the discussions were positive and forward looking covering various aspects of the trade deal. It was decided to intensify efforts to achieve early conclusion of a mutually beneficial trade agreement,” the statement read.
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On its part, the US Embassy in India described the meeting as “positive”.
“Assistant U.S. Trade Representative Brendan Lynch had a positive meeting in Delhi with his counterpart Ministry of Commerce and Industry Special Secretary Rajesh Agrawal on September 16 to discuss next steps in bilateral trade negotiations,” the embassy spokesperson said.
Trump has slapped India with 50 per cent tariffs. Firstly, he imposed 25 per cent tariffs as part of the rollout of so-called reciprocal tariffs on over 60 countries and blocs. Then, he topped it with 25 per cent tariff punitive tariff for India’s purchase of Russian oil. Up to 60 per cent of Indian exports to the United States to the tune of $48 billion are affected by tariffs. Economists have said that tariffs could drag down India’s annual growth by up to 1 per cent.
Impact Shorts
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Trump and his aides have accused India of funding the Russian war on Ukraine with the purchase of Russian oil. His aides have accused India of profiteering from the refining of Russian oil and the sale of refined products. The anti-India campaign has plunged the India-US relationship to the lowest point in years.
What does US want in a trade deal with India?
As previously reported by Firstpost, Trump rejected previous proposals endorsed by India that sought a win-win trade deal. Instead, he has pushed for a lopsided trade deal that generates benefits only to the United States.
Trump has also rejected India’s red line about agriculture and dairy sectors. India has kept these sectors out of all of its trade deals.
Prior to the US delegation’s visit, CNBC-TV18 reported sources as saying that the Trump administration has shared its roadmap on trade and tariffs, and India is engaging to understand its perspective and explore convergence, similar to its approach with other partners.
In recent weeks, Trump’s senior officials have publicly pressed India to purchase American agricultural products like corn.
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