India-US trade deal: American delegates to visit New Delhi for sixth round of talks in August. Details here
'The US team is visiting for the sixth round of talks,' the official told the news agency. He also mentioned that the two nations will continue to negotiate an interim trade deal as US President Donald Trump's 1 August tariff deadline nears.
Trump's tariffs on world nations will be imposed on 1 August 2025 after the end of the suspension period, which means exports from India to the United States will witness the effect of a 26 per cent tariff rate on top of the existing 10 per cent baseline duty.
Indian and US delegations finished their fifth round of trade talks last week in Washington. India's chief negotiator and special secretary of the Department of Commerce, Rajesh Agrawal, and Assistant US Trade Representative for South and Central Asia, Brendan Lynch, discussed the trade deal ahead of the tariff deadline.
According to the report, both nations are looking to finalise an interim trade deal before the August tariff deadline. The reciprocal tariffs were imposed on 2 April 2025 and were supposed to take effect from 9 July 2025. However, the deadline for the imposition of the import duties was later extended to 1 August 2025.
India, in its trade negotiations with the US, has hardened its position on the US's demand for import duty cuts on agriculture and dairy products. However, the country has not given any import duty cuts on these products to any of its trading partners, as per the agency report.
Farmer associations across India have also requested the government not to include any issues related to agriculture in the trade deal.
India aims to remove the additional 26 per cent tariffs, along with the 50 per cent rates on steel and aluminium and 25 per cent tariffs on automobiles. The nation has also reserved its rights under the World Trade Organisation (WTO) to impose retaliatory tariffs on the Western nation.
India also wants tariff cuts on textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas.
In exchange, the United States is seeking tariff cuts on industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, agri goods, dairy products, apples, tree nuts, and genetically modified crops.
The report also cited export data, which showed that the total merchandise export to the United States jumped 22.8 per cent to $25.51 billion in the April-June quarter of the 2025-26 fiscal year, while the imports were at $12.86 billion, marking a 11.68 per cent rise.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
12 minutes ago
- Economic Times
Trump's tariff may seem severe, but India not worse-off than nations that signed trade deal: GTRI
Despite US President Trump's proposed tariffs on Indian goods, GTRI suggests India isn't worse off than nations that made trade deals with Washington. These countries conceded significantly, while India refused to compromise on key areas like agriculture. India's tariffs are WTO-compliant, and its relationship with Russia has aided in managing inflation. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads US President Donald Trump's announcement to impose a 25 per cent tariff and penalty on Indian goods may seem severe but the country is not in a worse position than nations that signed trade deals with Washington, think tank GTRI said on Global Trade Research Initiative (GTRI) said the UK, the EU, Japan, Indonesia, and Vietnam now face elevated tariffs, and in return, have given sweeping concessions --zero tariffs on US farm goods, massive investment pledges, and purchases of American oil, gas, and has made no such concessions, it added."While Trump's announcement of a 25 per cent tariff plus penalty on Indian goods appears harsh, a closer look shows that India is not significantly worse off than countries that did sign deals with the US," GTRI Founder Ajay Srivastava added that India did not walk away from the deal and it negotiated in good faith but refused to cross its red lines particularly on agriculture, where over 700 million livelihoods are at justification for India's tariffs, trade barriers, and ties with Russia does not stand up to scrutiny, he said, adding that India's tariffs are WTO-compliant, non-tariff barriers are common globally, and discounted Russian oil has helped India manage inflation during global volatility."India is not alone; over 90 countries face similar US pressure. A deal may still emerge, but only on fair terms. For now, India's principled stand has avoided the trap of a one-sided deal -- and that's a success," he added.
The Hindu
15 minutes ago
- The Hindu
Italy summons Russian envoy after President put on ‘Russophobe' list
The Italian Government said on Wednesday (July 30, 2025) that it would summon the Russian ambassador to protest against President Sergio Mattarella being included in a list compiled by Moscow of Western leaders accused of anti-Russian sentiment. 'Publishing a list of so-called 'Russophobes' who supposedly incite hatred against Russia is yet another propaganda operation,' said Prime Minister Giorgia Meloni in a statement. On July 24, the Russian Foreign Ministry published a list of what it called 'hate speech' against Russia by members of Western elites, in which it included a statement from Mr. Mattarella at Aix-Marseille University last February. In his speech, the Italian President drew a parallel between Russia's full-scale invasion of Ukraine in 2022 and the expansionist wars of Nazi Germany. The Russian Foreign Ministry did not immediately respond to a request for comment from Reuters. Italy has traditionally had close political and economic ties with Russia. However, after Moscow's invasion of Ukraine, the relationship deteriorated, and Rome has firmly stood by Kyiv. According to Ms. Meloni, Moscow broke international law by invading Ukraine and Western countries have condemned Russia. Mr. Mattarella is the only Italian on the list, which also includes German Chancellor Friedrich Merz, the European Union's High Representative for Foreign Affairs Kaja Kallas, the Secretary-General of NATO Mark Rutte, and the President of France Emmanuel Macron.
The Hindu
15 minutes ago
- The Hindu
U.S. tariff and penalty on Indian goods disappoint garment and textile exporters
The 25% tariff coupled with penalty announced by the U.S. President Donald Trump on Wednesday for India has thrown the textile and apparel industry into uncertainty. The Confederation of Indian Textile Industry (CITI) said the new U.S. tariff rate for India presents a stiff challenge as the U.S. is India's largest market for textile and apparel exports. During January-May 2025, U.S. imports of textile and apparel from India were valued at $4.59 billion, a rise of more than 13% compared with the same period last year ( $4.05 billion). The U.S. has imposed a 35% tariff on exports from Bangladesh and 19%, 20%, and 36% respectively for Indonesia, Vietnam, and Cambodia. 'The lack of clarity on the penalty amount adds to the uncertainty for businesses as planning becomes difficult,' said CITI chairman Rakesh Mehra in a press release. According to S.K. Sundararaman, chairman of the Southern India Mills' Association (SIMA), this is not just about relative rates. 'Ultimately the U.S. consumer will pay more price for his goods and will slowly start buying less. The retailers will put pressure on the suppliers, squeezing their margins. The goods ready for shipments will be the worst hit,' he said. Sanjay K. Jain, chairman of the National Expert Committee on Textiles of the Indian Chamber of Commerce, said the industry was expecting 20% duty. While 25% is manageable, the additional penalty that remains undefined is disappointing. Indian textile and garment exports to the U.S. may still see some growth as China and Bangladesh have relatively higher duties, he said. Mithileshwar Thakur, secretary general of AEPC, said the U.S. constitutes 33% of Indian garment exports and its share in the U.S. garment market increased from 4.5% in 2020 to 5.8% in 2024. The imposition of penalty has thrown things into uncertainty and this should be addressed at the earliest. According to Prabhu Dhamodharan, convenor of Indian Texpreneurs Federation, if the 25% duty continues, India will still be competitive - with a 10% edge over Bangladesh and Cambodia, 5% over Sri Lanka, and 20 - 25% over China. 'We believe ongoing negotiations may still alter the tariff structure. India's strong domestic ecosystem of raw materials and intermediates gives global buyers a compelling reason to prefer India,' he said. 'The CITI anticipates the tariff issue to get resolved following the Bilateral Trade Agreement between India and the U.S.,' added Mr. Mehra.
