US trading delegation arrives in India for fresh round bilateral trade conversations

Copyright © HT Digital Streams Limit all rights reserved. A US Commercial Court recently set up US President Donald Trump’s reciprocal rates as illegal. (AP) Summary This is the fifth round of personal discussions in general between India and the US. The Indian side previously participated in three face to face in Washington, with the youngest held in New Delhi. New -delhi: An American trading delegation arrived in New -Delhi on Thursday before a new negotiation round on the proposed bilateral trade agreement (BTA) with India, which was planned to start on Friday, two people said. It is the fifth round of person discussions in general and the second led by the US team, led by Brendan Lynch, assistant-American trade representative for South and Central Asia. The Indian side previously participated in three rounds face to face in Washington, with the youngest from 19 to 24 May. Earlier discussions were held in virtual and physical formats, during which both parties exchanged priority lists and initial proposals. The upcoming discussions are seen as an important step toward solving tariff -related issues and strengthening bilateral trade ties. India is looking for tariff concessions for key sectors such as textiles and pharmaceuticals, while the US is trying to access dairy, e-commerce and digital trade. Read also | India is likely to seek the removal of US steel tariffs in trade talks rather than immediate retaliation “Lynch is accompanied by officials of the US Trade Representative (UNDR) office, the US Department of Trade, and senior negotiators, including Emily Ashby,” one of the above -mentioned persons mentioned above, said that anonymity. “The Indian team will be led by chief negotiator Rajesh Agarwal, and both teams work under a narrow deadline to reach a pre-harvest agreement before July 8, when the temporary 90-day break will expire on our reciprocal rates,” this person added. As the first time was reported by Mint on May 16, the deadline strengthened from both sides to stitch a trade agreement. On May 29, Mint reported that in early June in New Delhi in New Delhi, Mint was expected to potentially arrive for the final round of face-to-face discussions between India and the US. Both sides aim to conclude the agreement by the last week of June, according to the second person mentioned above, the upcoming negotiations will focus on finalizing issues related to market access, tariff reduction and non-tariff barriers, and possibly a framework for a formal BTA. “Key areas on the table include digital trade, intellectual property, agricultural goods and critical minerals,” this person added and also requested anonymity. Speakers from India’s Ministry of Trade and Industry, the Office of the US Trade Representative and the US Embassy in New -Delhi did not immediately respond to email questions. Read also | Goyal begins to visit France, Italy to deepen trade ties; India wants to follow the EU FTA quickly, tariff tensions of the global alliances, China, and an FTA, the latest round of personal talks between India and the US, come amid rising tariff tension. The US recently rejected India’s notice at the World Trade Organization (WTO) that challenges the 25% tariffs on Indian steel and aluminum exports. India hopes to resolve these issues through the BTA negotiations, but has indicated that it could exercise the right to retaliate at the WTO if no resolution is reached by June 8. The talks also carry geopolitical weight, which is taking place amid US concerns about India’s recent defensive agreement with Russia – an issue that allegedly upset Washington. Both countries also want to diversify their supply chains and reduce the dependence on China, which adds strategic urgency to the discussions. Meanwhile, experts advised caution as India moved forward with the broader free trade agreement (FTA) with the US. Read also | Asian factories have scars of Trump’s tariff explosion on May 28, the US Court of International Trade has won the US President Donald Trump’s “Liberation Day” reciprocal rates and illegally under the International Emergency Economic Powers Act. While the court ruled that trade deficits do not constitute the ‘unusual and extraordinary threat’ needed to apply emergency powers, the decision blocks an important pillar of Trump’s trade policy, although Article 232 tariffs on steel and car imports are not affected. “India should be resistant to any agreement formed by threats or on the basis of illegal measures. Not only the Trump era rates violate the rules of the World Trade Organization, but the US Court has now confirmed that they also violate the US local law,” said Ajay Srivastava, a former trade service official and founder of the economic thinking official. “With the Trump tariffs standing on shaky legal land, India must interrupt and reconsider its negotiation strategy before connecting to an FTA that can disproportionize US interests,” he added. Also Read | As US Court Declares Trump’s Tariffs Illegal, Experts Urge India to reassess Trade Talks “India Must Earnestly Advocate for a Fair and Reciprocal Trading Environment in the Upcoming In-Person Negotiations for the Bilateral Trade Agrement, Particularly in Light of the Us’s Rejection of Our WTO safeguard notice on steal and aluminum tariffs, “Said Pankaj N. Umrania, Executive Director of KND Steel, A Steel Processing Unit. “These tax constructions have put Indian manufacturers a clear disadvantage, disrupting global value chains and hurt processors and MSMEs,” he said. “To prevent the Indian industry from being penalized unfairly, we call on our negotiators to make access to steel and aluminum to the US market a top priority.” Catch all the business news, market news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. More Topics #Trade #News Read Next Story