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Hindustan Times
4 days ago
- Business
- Hindustan Times
India-US trade negotiations hit top gear, American delegation extends Delhi stay
New Delhi: Intensive trade negotiations between India and the US gained momentum, with an American delegation extending its stay in New Delhi until next week as both sides work to finalise an early portion of their bilateral trade agreement, people aware of the matter said on Friday. The American negotiation team led by assistant US Trade Representative Brendan Lynch arrived in India on Wednesday and began face-to-face bilateral talks that stretched late into Thursday, according to one person familiar with the discussions. 'The discussions are positive and progressive, and moving in the right direction,' said one person, describing Friday's conversations as 'continuing in a similar manner.' Originally expected to wrap up their visit after Friday, the American team will now remain in Delhi until Tuesday (June 10), this person added, signalling the hectic nature of the negotiations as both countries race to beat a crucial July 9 deadline. The focus is on achieving common ground for greater market access by eliminating tariffs and non-tariff barriers before July 9, when an additional 16% reciprocal tariff on Indian goods is set to take effect unless an interim deal is reached, people aware of the matter have previously explained. 'During the visit of the US delegation, both sides are engaged in detailed discussions on various aspects of the proposed BTA in order to forge a pathway to realise the vision for bilateral trade and economic ties as laid down by the leaders of the two countries during their meeting in February 2025,' a second person said. 'An early harvest deal—mostly related to tariff reductions on goods and elimination of non-tariff barriers—could be finalised during the ongoing New Delhi round, provided both sides reach agreement on all matters involving the early deal,' said the person quoted in the first instance. Speaking from Brescia, Italy, on Thursday, Goyal told PTI that negotiations were progressing well and more US officials would reach New Delhi on Friday to join discussions with their Indian counterparts. The negotiations are complex and taking time because of the other American tariffs on specific Indian goods such as steel, aluminium, automobiles and auto components, the first person quoted above added. 'As per the leaders' statement, the deal between the two sovereigns must be mutually beneficial, hence all trade-related issues have to be addressed accordingly,' he said. The tariff disputes have created parallel tracks in India-US relations, with New Delhi maintaining World Trade Organisation complaints against American measures while simultaneously pursuing bilateral solutions through the BTA framework.
Hindustan Times
5 days ago
- Business
- Hindustan Times
WTO dispute remains amid US trade talks
India will not withdraw its World Trade Organization complaints against US tariffs on steel, aluminium and automobiles unless the dispute is resolved even as negotiating teams from both sides began intensive talks in New Delhi on Thursday to finalise an early bilateral trade deal, according to people familiar with the matter. A team led by assistant US trade representative Brendan Lynch arrived in Delhi late on Wednesday for discussions with a ministry of commerce team that began on Thursday. The talks are scheduled for two days of engagements as both countries work toward an announcement on an early portion of the Bilateral Trade Agreement (BTA), potentially this month itself. The negotiations come against a critical July 9 deadline when an additional 16% reciprocal tariff on Indian goods is set to take effect, adding urgency to the bilateral talks. According to two officials aware of the matter, the parallel dispute at the World Trade Organisation is expected to not interfere with the BTA negotiations and India expects the issues to be resolved through mutually agreed solutions (MAS) mechanism, as was done for seven other disputes in June and September 2023. 'India is unlikely to withdraw its complaints against the US for illegally imposing safeguard tariffs on Indian steel, aluminium and automobiles at the World Trade Organisation,' said one of these people, asking not to be named. 'It is hoped that this matter will be resolved amicably under MAS as the trade negotiation is all about greater market access for both parties,' he added The stance reflects India's determination to challenge what it views as violations of multilateral trade rules while stressing on the need to get the BTA done. In a notice to the World Trade Organisation, India indicated it would respond to the metals tariffs by proportionately suspending concessions given to American imports. Washington rejected the notice on May 9. The controversy around the steel, aluminium and automobile and auto components tariffs stems from the Trump administration's decision on February 10 to impose 25% levies on these imports effective from March 12, forcing India to approach the World Trade Organisation on May 9. The matter escalated when the Trump administration doubled tariffs on the metals to 50% effective from June 4, citing national security. Besides metals, the US on March 26 raised tariffs on imports of passenger vehicles, light trucks and certain automobile parts from India to 25%. The deadline for India's one-month notice to the US on the steel and aluminium issue ends on June 8, after which it would be free to retaliate. In its latest notice dated June 2 regarding automobile tariffs, New Delhi again sought resolution before potential retaliation after a month. According to the Indian notice: 'India looks forward to receiving a prompt reply to this request from the United States and to setting a mutually convenient date and venue for the above-mentioned consultations. India reserves all its rights under the Agreement Establishing the World Trade Organization and its Annexes, including the Agreement on Safeguards.' Washington has not responded to this notice yet. A second official stated that the WTO confrontation is unlikely to interfere with the BTA talks since both countries want to conclude an interim deal by June and have held extensive talks on sectors and levies in recent months. The agreement could not only revoke the 10% baseline tax already imposed by the Trump administration from April 5, but also annul the proposed 16% additional reciprocal tariffs on Indian goods that will come into effect from July 9, this official reiterated – a position taken before. The current talks in New Delhi are scheduled to conclude on Friday but could be extended depending on requirements, according to the second official. The bilateral discussions involve a US delegation led by officials from the United States trade representative's office and Indian officials led by chief negotiator Rajesh Agrawal, a special secretary in the ministry of commerce and industry. Expressing optimism about resolving the trade disputes, the first official quoted above said the disputes could be resolved through mutually agreed solutions (MAS), pointing to successful precedent. 'Hopefully, the two parties may also resolve their World Trade Organisation disputes soon through MAS,' this person said. The precedent for such resolution is encouraging. In June 2023, during Prime Minister Narendra Modi's official state visit to the US, both leaders welcomed the resolution of six outstanding World Trade Organisation disputes between the two countries through MAS. At the time, Trump's predecessor Joe Biden was in office, suggesting continuity in the mechanism despite changes in US administration. About three months later in September, India and the US resolved their seventh and the last remaining trade dispute through MAS which was over import of poultry items, including chicken and eggs from America. The intensive negotiations reflect the momentum built since Modi and President Donald Trump's February 13 meeting in Washington, where they launched 'Mission 500' to increase bilateral trade from approximately $200 billion to $500 billion by 2030.
Mint
5 days ago
- Business
- Mint
US trade delegation arrives in India for fresh round of bilateral trade talks
New Delhi: A US trade delegation arrived in New Delhi on Thursday ahead of a fresh round of negotiations on the proposed bilateral trade agreement (BTA) with India, scheduled to begin on Friday, two people told Mint. This marks the fifth round of in-person discussions overall and the second led by the US side, which is led by Brendan Lynch, assistant US trade representative for South and Central Asia. The Indian side previously took part in three face-to-face rounds in Washington, with the most recent held from May 19 to 24. Earlier talks were conducted in both virtual and physical formats, during which both sides exchanged priority lists and initial proposals. The upcoming discussions are seen as a crucial step toward resolving tariff-related issues and strengthening bilateral trade ties. India is seeking tariff concessions for key sectors such as textiles and pharmaceuticals, while the US is pushing for broader access to dairy, e-commerce, and digital trade. 'Lynch is accompanied by officials from the Office of the United States Trade Representative (USTR), the US Department of Commerce, and senior negotiators including Emily Ashby,' one of the persons mentioned above said, requesting anonymity. 'The Indian side will be led by chief negotiator Rajesh Agarwal, and both teams are working under a tight deadline to reach a pre-harvest deal before July 8, when the temporary 90-day pause on US reciprocal tariffs is set to expire,' this person added. As first reported by Mint on 16 May, the looming deadline has intensified efforts on both sides to stitch a trade deal. On 29 May, Mint reported that an American negotiating team was expected to arrive in New Delhi in early June for potentially the final round of face-to-face discussions between India and the US. Both sides are aiming to close the deal by the last week of June, According to the second person mentioned above, the upcoming negotiations will focus on finalising issues related to market access, tariff reduction, and non-tariff barriers, and potentially outlining a framework for a formal BTA. 'Key areas on the table include digital trade, intellectual property, agricultural goods, and critical minerals,' this person added, also requesting anonymity. Spokespersons for India's Ministry of Commerce and Industry, the Office of the United States Trade Representative, and the US Embassy in New Delhi did not immediately respond to emailed queries. The latest round of in-person talks between India and the US come amid rising tariff tensions. The US recently rejected India's notice at the World Trade Organization (WTO) challenging the 25% tariffs imposed on Indian steel and aluminium exports. India hopes to resolve these issues through the BTA negotiations but has indicated it may exercise its right to retaliate at the WTO if no resolution is reached by 8 June. The talks also carry geopolitical weight, taking place amid US concerns over India's recent defence deal with Russia—an issue that has reportedly unsettled Washington. Both countries are also seeking to diversify their supply chains and reduce dependence on China, adding strategic urgency to the talks. Meanwhile, experts have advised caution as India moves forward with broader free trade agreement (FTA) negotiations with the US. On 28 May, the US Court of International Trade struck down US President Donald Trump's 'Liberation Day' reciprocal tariffs, ruling them illegal under the International Emergency Economic Powers Act. While the court held that trade deficits do not constitute the 'unusual and extraordinary threat' required to invoke emergency powers, the ruling blocks a key pillar of Trump's trade policy, though Section 232 tariffs on steel and automotive imports remain unaffected. 'India should resist any agreement shaped by threats or based on unlawful measures. Not only do these Trump-era tariffs violate World Trade Organization rules, but the US court has now confirmed they also breach US domestic law,' said Ajay Srivastava, a former trade service official and founder of economic think-tank Global Trade Research Initiative. 'With the Trump tariffs standing on shaky legal ground, India must pause and reassess its negotiation strategy before committing to an FTA that could disproportionately favour US interests,' he added.
Yahoo
27-05-2025
- Business
- Yahoo
Barclays Maintains Hold Rating on STAG Industrial (STAG) Stock
In a report released on May 27, Brendan Lynch from Barclays maintained a Hold rating on STAG Industrial, Inc. (NYSE:STAG) with a price target of $37.00. The rating followed the company's fiscal Q1 2025 results, which reported $0.49 in net income per basic and diluted common share, compared to $0.20 in the same quarter last year. Net income for the quarter came up to $91.3 million compared to $36.6 million in fiscal Q1 2024. Aerial view of a large industrial property, with its single-tenant structure. Management reported that it was too early to quantify the potential impact of tariffs on the business and that it is witnessing some lengthening in lease gestation periods due to macroeconomic events. STAG Industrial, Inc. (NYSE:STAG) is a real estate investment company that acquires, owns, and manages industrial real estate assets. While we acknowledge the potential of STAG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than STAG and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None.
Yahoo
27-05-2025
- Business
- Yahoo
Barclays Maintains a Hold Rating on Plymouth Industrial REIT (PLYM)
On May 27, Barclays analyst Brendan Lynch maintained a Hold rating on Plymouth Industrial REIT, Inc. (NYSE:PLYM) and set a price target of $18.00. An expansive industrial property in the middle of a bustling city - representative of the company's acquisition and operation of industrial properties. The rating update followed the company's announcement of fiscal Q1 2025 results. It reported a net income of $5.8 million compared to $6.1 million in the same quarter last year. This year-over-year decline was attributed to the deconsolidation of 34 properties for a joint venture with Sixth Street Partners, LLC during fiscal Q4 2024, along with lower portfolio occupancy. Consolidated total revenues for the quarter also dropped to $45.6 million, compared to $50.2 million for the same period last year. The results invoked caution from investors, resulting in a Hold rating. Plymouth Industrial REIT, Inc. (NYSE:PLYM) acquires, owns, and manages single and multi-tenant distribution centers, light industrial properties, and warehouses. The company acquires properties that boost shareholder value through active asset management, disciplined capital deployment, and prudent property repositioning. While we acknowledge the potential of PLYM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PLYM and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
