NEW DELHI: India and the United States have engaged in discussions that extend beyond trade in goods, encompassing non-tariff measures, customs and trade facilitation, and economic security alignment, among other issues, according to an official statement released on Thursday.
A team from the Office of the United States Trade Representative (USTR) has been in India since Monday to advance negotiations on a bilateral trade agreement, which has been under development for over 15 months. The talks have been characterized by a spirit of cooperation and pragmatism, with both sides reaffirming their commitment to concluding a mutually beneficial agreement that strengthens bilateral trade and economic ties.
The statement came a day after the USTR proposed an additional 12.5% tariff on India and over 50 other countries, citing their alleged failure to curb imports of goods produced using forced labor. Both India and the US have maintained that discussions on the legal text of the proposed agreement are in their final stages. The decision on the rate of the additional levy will depend on how the Trump administration addresses the issue in the coming weeks, as the current 10% levy is set to expire next month.
The negotiations reflect a broader effort to deepen economic cooperation between the two nations, with a focus on aligning trade policies and addressing non-tariff barriers. The talks also aim to enhance trade facilitation measures and ensure that economic security considerations are integrated into the agreement. Both sides have expressed optimism about reaching a deal that will boost bilateral trade volumes and create a more predictable and transparent trading environment.
The outcome of these negotiations is closely watched by businesses and policymakers, as a successful agreement could set a precedent for future trade deals and strengthen the strategic partnership between India and the United States.
