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US team may defer Aug 25 India visit for bilateral trade negotiations
So far, five rounds of talks have been completed for the proposed bilateral trade agreement (BTA) and a US team is scheduled to visit India for the sixth round of talks.
The negotiations were scheduled from August 25-29.
"This visit is likely to be rescheduled," the official, who did not wish to be named, said.
Deferment or rescheduling of the meeting assumes significance as the US has announced a staggering 50 per cent duty on Indian goods.
The US is pressing for greater market access in politically sensitive areas such as agri and dairy sectors, which India cannot accept as it affects the livelihood of small and marginal farmers.
India has stated that it will not compromise the interests of farmers and cattle rearers.
The US and India have announced plans to conclude the first phase of BTA by fall (September-October) of 2025. The two countries are aiming at more than doubling the bilateral trade to USD 500 billion by 2030, from the present USD 191 billion.
While the 25 per cent tariff on Indian goods entering the US has come into effect from August 7, an additional 25 per cent, was announced on India as penalty for buying crude oil and military equipment from Russia, will come into effect from August 27.
During April-July, the country's exports to the US increased 21.64 per cent to USD 33.53 billion, while imports rose 12.33 per cent to USD 17.41 billion, according to commerce ministry data.
The US was the largest trading partner of India in the April-July period (USD 12.56 billion bilateral trade) 2025-26. India's exports to America are recording positive growth since April this year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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