India, US aim for interim deal by Aug 1 deadline
"The Indian team is coming back," an official confirmed the conclusion of discussions. The latest round of negotiations holds particular importance as both nations are aiming to finalise an interim trade deal before August 1. This deadline marks the end of the suspension period of the Trump-era tariffs, steep additional duties of up to 26% imposed on several countries, including India.
US President Donald Trump had originally announced the reciprocal tariffs on April 2 this year. While they were scheduled for immediate implementation, the duties were temporarily suspended for 90 days until July 9, and later extended again until August 1, allowing time for ongoing trade negotiations with multiple countries.
During the fifth round of talks, key sectors such as agriculture and automobiles featured prominently. The discussions also covered matters related to non-market economies and the export control category known as SCOMET (Special Chemicals, Organisms, Materials, Equipment, and Technologies).
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