India and the United States have carried forward their trade talks, both sides are actively involved in virtual discussions. It is being told that an Indian delegation may soon visit the US.
In fact, government sources told news agency ANI that an Indian trade delegation will soon visit Washington DC for personal talks with the objective of finalizing the trade agreement.
Sources familiar with the case also said that apart from personal meetings, Indian officials have also attended several virtual meetings with their American counterparts in recent weeks.
These meetings have helped prepare a platform for more elaborate and wide face-to-face interaction. The upcoming visit of the Indian delegation is being seen as a major step towards advancing the discussion on a possible trade agreement.
The dialogue focuses on comprehensive trade agreement as well as targeted trade system, which can help resolve major issues between the two countries. The ongoing conversation reflects the serious effort by both sides to deepen business relations and reduce friction on business related matters.
The discussion intensified after the announcement of tariff policy on countries with trade surplus against America again earlier this year. India was also among the countries affected by the proposed tariffs on exports to the US.
However, the tariff implementation, which was earlier scheduled for April, was stopped for 90 days and was later extended to 1 August. This expansion has provided additional time to the two countries to interact and try to reach out to a mutually beneficial agreement.
Officials said the current era of discussion is important, and the Indian delegation’s visit could play an important role in finalizing the deal before the extended deadline.
Meanwhile, Donald Trump has continued his tariff policy to pressurize the countries, on Wednesday, he announced a new list of tariffs, targeting 14 countries.
Products of Algeria, Libya, Iraq and Sri Lanka will be charged 30 percent, while Brunei and Moldova will have 25 percent tariffs. The products of the Philippines will cost 20 percent. Brazil has been the most affected, where a huge punitive tariff of 50 percent has been imposed on copper especially copper.
On July 8, Trump shared letters sent to Japan Prime Minister Shigeru Ishiba and South Korean President Lee J-Mayang, stating that the two countries would be imposed 25 percent tariffs from August 1. Later he confirmed that similar letters have been sent to Malaysia and Kazakhstan, which will also be imposed 25 percent tariffs.
According to the letters, Myanmar and Laos will have 40 percent tariffs, while Indonesia will have 32 percent tariffs. Imports from Thailand and Cambodia will cost 36 percent and imports from Bangladesh and Serbia will cost 35 percent tariffs. South Africa and Bosnia and Herjegovina will cost 30 percent, and Tunisia will have 25 percent tariff.
