Tariff deadline Aug 1, US team to visit India in 2nd half of month
NEW DELHI: Even as the Aug 1 deadline set by Trump looms, a team of US negotiators will visit India only in the second half of Aug with top officials indicating that India is looking at a bilateral trade agreement by Fall.
The govt has not commented on the last week's talks in Washington, but by all indications, negotiators have failed to make much headway on the contentious issue of allowing American agriculture and dairy products, which have been clearly marked as no-go areas by India.
Besides, India has been demanding that it should get a good deal in areas of interests such as textiles, footwear, certain auto parts and shrimps and is unwilling to settle for sub-optimal solutions.
The US has been insisting on concessions for agricultural products such as maize and soybean, most of which is genetically modified, something that India does not allow.
In recent days, Trump has claimed that a deal with India will be finalised soon. Although it is unclear if talks for a deal before Aug 1 deadline will take place virtually, it remains to be seen how the American president responds, given that he has been sending tariff letters to countries which have not signed agreements so far.
In fact, the transparency in the deals being signed by Trump is another concern with govt, given that the US has finalised deals with Vietnam and Bangladesh, where the non-disclosure clauses are preventing them from being made public while the American president claims victory.
On April 2, Trump had announced a 26% reciprocal tariff on Indian products, only to suspend it till July 9 and announced Aug 1 as the new date for the higher levies to kick in. For India too, the stakes are high, given that the US is its largest export market.
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