US President Donald Trump said on Tuesday that the rate of tariff to be levied against Indian imports had not been finalised yet.
The country may pay tariffs in the range of 20% to 25%, Trump told reporters aboard Air Force One. This was in response to a Reuters report on US tariffs amid extended US trade talks with India.
The report, however, said that this would be a temporary measure considering the trade talks between both the countries. The report also added that a deal will soon be worked out.
According to the report, India and the US are likely to finalise a comprehensive bilateral agreement by September or October.
India, however, is likely to continue the broader trade negotiations, as a delegation from the US will visit the country for the next round of talks on Aug. 25.
The visit would come weeks after the fifth round concluded in Washington on July 19. With just days to go before the Aug. 1 deadline for possible US tariff action, discussions remain active behind the scenes, the persons privy to the development told NDTV Profit.
The upcoming round of talks is expected to cover unresolved issues related to market access, tariffs, and digital trade. While both sides have signaled intent to deepen economic ties, negotiations have faced hurdles over regulatory standards and duties on key goods.
Despite multiple rounds of discussions in recent months, a mini or an interim trade agreement has remained elusive. India is now looking to secure at least a limited or interim deal that can offer tariff relief and better access in select sectors, while insulating core domestic interests.
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