Once finalized, the interim deal is expected to ease trade tensions and pave the way for a more comprehensive economic partnership between the two countries
With time ticking down on a temporary suspension of steep tariffs, India and the United States are intensifying efforts to finalize an interim trade agreement.
Following the recent return of India’s chief negotiator Rajesh Agrawal from a four-day visit to Washington, media reports indicate that a high-level US trade delegation is likely to visit India in the coming weeks. This visit could mark the final round of discussions on the proposed interim trade agreement between the two nations.
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90-day suspension of a steep 26% reciprocal tariff imposed by the United States on April 2, expiring on July 9
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India is pressing for a permanent exemption from this tariff
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Advocating for the removal of an existing 10% baseline tariff on its exports
Rajesh Agrawal, who serves as the Special Secretary in India’s Department of Commerce, held direct discussions with his American counterpart during his four-day visit to the US capital. His visit was part of a broader diplomatic effort. India’s Commerce and Industry Minister, Piyush Goyal, was also in Washington, indicating the strategic importance both nations are placing on concluding this agreement.
The urgency stems from a July 9 deadline, when the 90-day suspension of a steep 26% reciprocal tariff imposed by the United States on April 2 is set to expire. India is pressing for a permanent exemption from this tariff and is also advocating for the removal of an existing 10% baseline tariff on its exports.
