India and U.S. fifth round of talks for the proposed bilateral trade agreement concludes
May be a win-win for both
New Delhi: India and U.S. have concluded fifth round of talks for the proposed bilateral trade agreement (BTA) in Washington.
Duty concessions on certain industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, agricultural goods, dairy items, apples, tree nuts, and genetically modified crops were put before by U.S.
After four days of negotiations (July 14-17) in Washington. Indian team is coming back.
Rajesh Agrawa. India’s chief negotiator and special secretary in the department of commerce leads the team for negotiations.
As both sides are looking at finalising an interim trade deal before August 1, which marks the end of the suspension period of the U.S. President Donald Trump tariffs imposed on dozens of countries including India (26%), These deliberations are important.
During the fifth round of negotiations,Issues related to agriculture and automobiles and Matters related to ways to deal with non-market economies, and SCOMET (Special Chemicals, Organisms, Materials, Equipment, Technologies) also came up for discussions.
On April 2 this year, Mr. Trump announced these high reciprocal tariffs. The implementation of high tariff was immediately suspended for 90 days till July 9 and later till August 1 as America is negotiating trade deals with a number of countries.
