New York : India and the US are back at the negotiating table on Tuesday to work out a crucial trade deal, weeks after President Donald Trump slapped punitive 50 percent tariffs on Indian exports over its purchase of Russian oil. US Trade Representative for South Asia Brendan Lynch is leading the American side during the day-long negotiations, while senior Commerce Ministry official Rajesh Agarwal is representing India, reported news agency Reuters.
Trump said he was optimistic about concluding a trade agreement with India. In response, Prime Minister Narendra Modi said the trade negotiations would pave the way for “unlocking the limitless potential of the India-US partnership”. Officials in New Delhi see the talks as a possible opening to rescue a free trade agreement that had been thrown into doubt by the tariffs, which kicked in on August 27.
India and the US had committed to closing an interim trade deal by the fall of 2025. But negotiations hit a dead end over Washington seeking larger access to India’s agricultural and dairy markets, which are red lines for New Delhi. White House trade adviser Peter Navarro said on Monday that India was “coming to the negotiating table”, a remark that came ahead of the US team’s arrival here for the high-stakes discussions.
In recent weeks, Navarro embarked on an India offensive after Trump imposed a 25 per cent penalty on top of existing 25 per cent levies on Indian goods. He accused New Delhi of profiteering from Moscow’s war in Ukraine and branded it Kremlin’s “laundromat”. India maintains its oil trade with Russia doesn’t violate any international laws. Officials have also accused the West of hypocrisy, pointing out that the EU and US still buy Russian goods worth billions. The tariff standoff and Trump officials’ indignant tirades caused a sharp downturn in India-US ties.
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