Conversation between India-US on interim bilateral trade agreement is ongoing: MEA
New Delhi, August 4
The Ministry of External Affairs said on Tuesday that work remains in progress towards the finalisation of the interim bilateral trade agreement between India and the United States and that both sides have done "a lot of work" in this regard.
The remarks were made by MEA Spokesperson Randhir Jaiswal while addressing a bi-weekly media briefing here in the national capital.
Responding to the media when asked how several American states have come together to challenge the latest slew of tariffs announced by the Trump administration that places India in the 10 per cent bracket, Jaiswal told the media,
Responding to a question on the latest tariff measures announced by the US administration and reports of legal challenges by several American states against the move, Jaiswal said the dialogue between the two countries on the proposed trade agreement continues.
"The conversation between India and the United States on the proposed bilateral trade agreement is ongoing. Both sides have done a lot of work in this regard."
Earlier in July, the United States unveiled fresh tariff slabs of 10 and 12.5 per cent on several economies under its Section 301. India has been placed in the lower 10 per cent tariff category.
Jaiswal further noted that there remain a few issues upon which New Delhi and Washington continue to engage.
He said, "There are certain issues which need finalisation, and both countries are working towards finalisation of the interim bilateral trade agreement."
His remarks come as a coalition of 25 US states has filed a lawsuit against the Trump administration, challenging its latest round of tariffs on imports from the European Union and nearly 60 other countries to prohibit imports produced with "forced labour", arguing that the measures exceed the administration's legal authority and would raise costs for American consumers and businesses.
The lawsuit, filed in the US Court of International Trade and led by California Attorney General Rob Bonta along with the attorneys general of Arizona and Oregon, contests tariffs imposed following an investigation conducted under Section 301 of the Trade Act of 1974 in the US.
— ANI
Reader Comments
Interesting to see the legal challenges from multiple US states against the tariff structure. As someone watching India-US trade relations, I believe a balanced interim agreement could benefit both economies. Let's hope the "lot of work" translates into concrete outcomes soon. Dialogues are good, but action matters more.
Honestly speaking, I wish our government would focus more on other trade partners too. Why are we always so eager to please the US? We keep hearing "ongoing talks" for months now. At some point, words need to become actions. Our exporters are waiting for concrete policy support. The 10% tariff is better than 25%, but we can't stay complacent.
Good that MEA is providing updates regularly. The US states' legal challenge shows the internal dynamics of American politics. India should leverage this to negotiate better terms. The Section 301 tariffs seem problematic even for the US consumers, so we have some cards in our hand. Diplomatic patience is needed, but we should also prepare alternative strategies if talks slacken.
It's reassuring to see the continued diplomatic engagement between India and the US. As an American watching this trade saga unfold, I actually support India's position here. These blanket tariffs hurt small businesses and consumers in my country too. Good that 25 states are pushing back against this approach. A rational interim deal would be a win-win.
All this talk about interim trade agreements while the US is creating so much global trade tension. I'm happy that India is being cautious and not rushing into anything. Better to take time and get a fair
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.