The mini trade deal between India and the United States may have to wait longer. The reason for this is that the US delegation will no longer have a tour of August 25 for the next round of talks with India. It is being rested for another date. The next round discussion was expected in New Delhi for further talks on the proposed bilateral trade agreement (BTA) between India and the US. The sixth round of talks were scheduled from 25–29 August.
A government official says that the visit of US delegation will be rested and it is not happening on August 25 as per the earlier plan. The two countries started a conversation on the trade deal in March this year. Since then, 5 rounds have been discussed. Last time officials of the two countries met in the US in July. The trade deal is planned to be finalized by September this year.
Will 25 percent secondary tariff be postponed
The sixth round of conversation on the trade deal means having a reclaimed tariff tension. 25 percent of additional tariffs or secondary tariffs on Indian goods going to America are going to be implemented from August 27. This will reduce the total rate of tariff to 50 percent. A rate of 25 percent has already come into effect from 7 August. However, US President Donald Trump has now indicated that his administration may not be imposed secondary tariffs on countries that continue to purchase Russian crude oil.
It took place on 15 August after a Trump’s meeting with Russian President Vladimir Putin. The purpose of this meeting was to establish a ceasefire to end the war in Ukraine. Although the meeting remained inconclusive, Trump will meet Ukrainian President Volodimir Jailnsky in Washington on August 18 and would interact further on the peace agreement with Russia. There are also signs of another meeting of Trump and Putin in Moscow.
More Indian goods sent to the US are currently suffering 25 percent tariffs. India aims to reduce the tariffs on its exports through a trade agreement with the US.