US-India trade talks scheduled for August called off, source says
NEW DELHI: A planned visit by US trade negotiators to New Delhi from August 25-29 has been called off, a source said, delaying talks on a proposed trade agreement and dashing hopes of relief from additional US tariffs on Indian goods from Aug 27.
The current round of negotiations for the proposed bilateral trade agreement is now likely to be deferred to another date that has yet to be decided, the source with direct knowledge of the matter said.
The US embassy in New Delhi said it has no additional information on the trade and tariff talks, which are being handled by the United States Trade Representative (USTR).
India's trade ministry did not immediately reply to a Reuters email seeking comments.
Earlier this month, US President Donald Trump imposed an additional 25% tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations.
The new import tax, which will come into effect from Aug 27, will raise duties on some Indian exports to as high as 50% - among the highest levied on any US trading partner.
Trade talks between New Delhi and Washington collapsed after five rounds of negotiations over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases.
India's Foreign Ministry has said the country is being unfairly singled out for buying Russian oil while the United States and European Union continue to purchase goods from Russia. - Reuters
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
3 minutes ago
- The Star
On the rise: Bursa Malaysia expected to move upwards to the 1,590 level this week
KUALA LUMPUR (Bernama): Bursa Malaysia is expected to rise this week towards the 1,590 resistance level, contingent on supportive global risk sentiment and incremental clarity over semiconductor tariff trajectories, said an analyst. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said that given the weekend timing of the meeting between US President Donald Trump and Russian President Vladimir Putin, Malaysia's equity market will absorb any geopolitical repricing effects when trading resumes next week. "Domestically, the investment narrative will be shaped by further disclosures on the 13th Malaysia Plan (13MP) project allocations, while the approach of Budget 2026 -- now under two months away -- will heighten focus on stakeholder engagement sessions as potential precursors to fiscal policy direction ahead of the Prime Minister's parliamentary tabling,' he told Bernama. On the inflation front, Mohd Sedek said Malaysia's July Consumer Price Index (CPI), due for release on Friday, Aug 22, will offer the first high-frequency read on the pass-through impact of the broadened Sales and Service Tax (SST) regime. "We project headline CPI at 1.2 to 1.3 per cent year-on-year, up from 1.1 per cent in June, with core inflation expected to remain contained,' he said. Globally, Mohd Sedek said, investor attention is set to converge on Wednesday's release of the Federal Open Market Committee minutes and the Jackson Hole Symposium (Aug 21-23) -- both considered potential catalysts for repricing policy-rate expectations if a pivot narrative gains momentum. "Pre-Jackson Hole signalling from Washington has intensified, with the Trump administration adopting a more assertive communications posture than the Federal Reserve's (Fed) measured, data-dependent stance. "Treasury Secretary Scott Bessent has escalated his call from a 50-basis-point cut to a cumulative 150-basis-point reduction, amplifying political pressure on the Fed. "This shift, combined with personnel changes at the Bureau of Labor Statistics and the nomination of dovish candidates to the Federal Reserve Board, reflects a coordinated strategy to influence Fed chair Jerome Powell's policy trajectory,' he said. He added that any eventual dovish recalibration could be positioned domestically as both a political and macroeconomic victory, reinforcing the administration's narrative of executive influence over monetary normalisation. On a weekly basis, the FTSE Bursa Malaysia KLCI rose 19.36 points to 1,576.34 on Friday from 1,556.98 a week earlier. The FBM Emas Index gained 129.27 points to 11,731.06, the FBMT 100 Index climbed 132.95 points to 11,512.86, the FBM Emas Shariah Index added 20.67 points to 11,654.85, the FBM 70 Index improved 155.15 points to 16,660.68, and the FBM ACE Index advanced 106.57 points to 4,713.45. By sector, the Financial Services Index rose 499.25 points to 18,080.07, the Plantation Index increased 77.91 points to 7,504.03, and the Energy Index went up 4.11 points to 740.83. Weekly turnover dropped to 11.10 billion units worth RM11.87 billion from 12.65 billion units worth RM11.65 billion in the previous week. The Main Market volume shrank to 7.16 billion units valued at RM11.06 billion compared with 7.66 billion units valued at RM10.61 billion previously. Warrants turnover declined to 3.37 billion units worth RM453.56 million from 3.62 billion units worth RM508.07 million in the preceding week. The weekly ACE Market volume grew to 1.64 billion units valued at RM593.87 million versus 1.37 billion units valued at RM529.84 million previously. - Bernama TAGS:
Borneo Post
3 minutes ago
- Borneo Post
European leaders to join Zelensky in US for Ukraine talks with Trump
In this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin makes a statement during a meeting at the Kremlin in Moscow on August 16, 2025, a day after US-Russia summit on the conflict between Russia and Ukraine. – Sputnik/AFP source photo BRUSSELS (Aug 17): European leaders will join Ukrainian President Volodymyr Zelensky during his visit to Washington on Monday seeking an end to Moscow's invasion, after President Donald Trump dropped his push for a ceasefire following an Alaska summit with Russian leader Vladimir Putin. Securing a ceasefire in Ukraine, more than three years after the Kremlin ordered the invasion, had been one of Trump's core demands before the summit, to which Ukraine and its European allies were not invited. But after the meeting yielded no breakthrough, Trump ruled out an immediate ceasefire in Ukraine — a move that would appear to favour Putin, who has long argued for negotiations on a final peace deal. Ukraine and its European allies have criticised Putin's stance as a way to buy time and press Russia's battlefield advances. The leaders heading to Washington on Monday to try and bend Trump's ear on the matter include German Chancellor Friedrich Merz, French President Emmanuel Macron, NATO Secretary-General Mark Rutte and European Commission President Ursula von der Leyen. Ahead of the visit, von der Leyen said on X she would welcome Zelensky for a meeting in Brussels on Sunday which other European leaders would join by video, before accompanying the Ukrainian leader on his US trip at his 'request' and with 'other European leaders'. The German government, which confirmed Merz was going, said it would try to emphasise 'interest in a swift peace agreement in Ukraine'. Trump had briefed Zelensky and European leaders on his flight back from Alaska to Washington, saying afterwards that 'it was determined by all that the best way to end the horrific war between Russia and Ukraine is to go directly to a peace agreement which would end the war'. Ceasefire agreements 'often times do not hold up,' Trump argued on his Truth Social platform. But Zelensky has appeared unconvinced by the change of tack, saying on Saturday that it 'complicates the situation'. If Moscow lacks 'the will to carry out a simple order to stop the strikes, it may take a lot of effort to get Russia to have the will to implement (something) far greater — peaceful coexistence with its neighbours for decades,' he said on social media. European leaders for their part have expressed unease over Trump's outreach to Putin from the outset. – 'Harsh reality' – Trump expressed support during his call with Zelensky and European leaders for a proposal by Putin to take full control of two eastern Ukrainian regions that Russia largely controls in exchange for freezing the frontline in two others, an official briefed on the talks told AFP. Putin 'de facto demands that Ukraine leave Donbas,' an area consisting of the Donetsk and Lugansk regions in eastern Ukraine, the source said. In exchange, Russian forces would halt their offensive in the Black Sea port region of Kherson and Zaporizhzhia in southern Ukraine, where the main cities are still under Ukrainian control. Several months into its full-scale invasion of Ukraine, Russia in September 2022 claimed to have annexed all four Ukrainian regions even though its troops still do not fully control any of them. 'The Ukrainian president refused to leave Donbas,' the source said. Trump notably also said the United States was prepared to provide Ukraine security guarantees, an assurance Merz hailed as 'significant progress'. But there was a scathing assessment of the summit outcome from the European Union's top diplomat Kaja Kallas, who accused Putin of seeking to 'drag out negotiations' with no commitment to end the bloodshed. 'The harsh reality is that Russia has no intention of ending this war any time soon,' Kallas said. – Zelensky back in White House – The diplomatic focus now switches to Zelensky's talks at the White House on Monday with the European leaders in tow. The Ukrainian president's last Oval Office visit in February ended in an extraordinary shouting match, with Trump and Vice President JD Vance publicly berating Zelensky for not showing enough gratitude for US aid. In an interview with broadcaster Fox News after his sit-down with Putin, Trump had suggested that the onus was now on Zelensky to secure a peace deal as they work towards an eventual trilateral summit with Putin. 'It's really up to President Zelensky to get it done,' Trump said. Meanwhile, the conflict in Ukraine rages on, with both Kyiv and Moscow launching attack drones at each other Sunday. In his post-summit statement in Alaska, Putin had warned Ukraine and European countries not to engage in any 'behind-the-scenes intrigues' that could disrupt what he called 'this emerging progress'. – AFP ceasefire European peace talks Russia-Ukraine war
The Star
33 minutes ago
- The Star
Swedish prime minister to attend Sunday's 'Coalition of the Willing' meeting, spokesperson says
STOCKHOLM (Reuters) -Swedish prime minister Ulf Kristersson will virtually attend Sunday's meeting with the "Coalition of the Willing", ahead of President Volodymyr Zelenskiy's visit to Washington on Monday, a spokesperson from the prime minister's office told Reuters. Kristersson will however not fly to Washington together with Zelenskiy alongside other European leaders on Monday, the spokesperson said. (Reporting by Marie MannesEditing by Tomasz Janowski)
