New Delhi, June 3 (IANS). The Commerce Ministry on Wednesday said India is in continuous talks with the US to finalize the action taken under Section 301 and the interim bilateral trade agreement signed between the two countries on February 2.
The Commerce Ministry said that the US Trade Representative (USTR) has completed the investigation into the steps taken to stop the import of goods against 60 economies, including India.
As a result, the USTR has proposed imposing additional tariffs on imports from 60 countries under Section 301 of the US Trade Act of 1974. Tariffs falling under Section 232 and certain other products have been excluded from these tariff proposals. A special arrangement for textile and apparel products has also been proposed, under which a certain quantity of imports from select economies could be allowed to enter the US at reduced duty rates.
According to the report, the proposed charges are yet to be finalized and stakeholders can submit requests to participate in the public hearing till June 22, 2026. Whereas, written comments can be submitted till July 6, 2026. The public hearing will be held on July 7. The STR will consider the comments and testimonies received before taking a final decision on the proposed measures.
Senior officials from India and the US are currently holding three-day talks in New Delhi to finalize an interim bilateral trade agreement that is expected to reduce tariffs.
The India-US joint statement on February 7 established the framework for a landmark interim trade agreement to achieve mutually beneficial, reciprocal trade, while also committing both countries to comprehensive bilateral trade agreement (BTA) negotiations.
US Ambassador to India Sergio Gore recently said the US looks forward to finalizing the details of a new bilateral trade agreement with India that will expand market access, reduce barriers and create greater certainty for businesses on both sides.
–IANS
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