India, US Discuss Trade Deal As New Delhi Awaits Tariff Relief
Washington and New Delhi have been working on a trade agreement that would be implemented in multiple stages, with the first phase addressing the retaliatory duties Trump imposed.
Officials from US and India on Wednesday kicked off two-day talks aimed at resolving differences and finalizing a trade deal, as New Delhi awaits relief from high tariffs imposed by Washington.
US Deputy Trade Representative Rick Switzer met India’s Foreign Secretary Vikram Misri and Commerce Secretary Rajesh Agrawal in New Delhi, Indian officials said.
“Discussions covered the strong India–US economic and technology partnership, ongoing trade negotiations, and opportunities to boost two-way trade and resilient supply chains,” Randhir Jaiswal, spokesperson for India’s Ministry of External Affairs wrote in a post on X.
Washington and New Delhi have been working on a trade agreement that would be implemented in multiple stages, with the first phase addressing the retaliatory duties Trump imposed on products from India. The 50% rate includes charges the US president applied in retaliation for India’s purchases of Russian oil.
Switzer, along with chief trade negotiator Brendan Lynch, is in India from Dec. 9-11 to advance negotiations on a broad trade agreement. He also met India’s commerce secretary to discuss the bilateral pact that the two nations have been negotiating since March, an official said, asking not to be identified as the talks are private.
India’s Ministry of Commerce and Industry didn’t immediately respond to requests for comment.
The two nations had initially agreed to wrap up the first tranche of the deal, which covers the tariff rates, by fall this year. After missing that deadline, Indian officials in recent weeks have expressed optimism that the two sides could clinch the initial deal before the end of the year.
The talks included wider discussions on bilateral economic and trade ties along with conclusion of a mutually-beneficial trade pact, the official said.
Trump has also toned down his rhetoric, saying in November he’ll reduce tariffs “at some point.” But he remains critical of India’s trade practices. He signaled Monday that he could take action against the South Asian nation for alleged dumping of Indian rice into the US market.
