Blitz Bureau
NEW DELHI: India is on course to finalise an interim trade agreement with the US as early as this week to escape the tariff hike on its exports proposed by President Donald Trump, according to a report in the Financial Times. India’s negotiating team, led by Special Secretary Rajesh Agarwal, is engaged in high-level talks in Washington to conclude the bilateral trade agreement.
External Affairs Minister S Jaishankar is expected to hold one-on-one talks with his US counterpart Marco Rubio on July 2 or 3 on the sidelines of a meeting in Washington, the report stated. The interim trade deal would be an initial step towards a comprehensive bilateral free trade agreement between Indian and the US.
Indian and US negotiators are aiming to finalise an interim trade deal ahead of the July 9 deadline that has been fixed by US President Donald Trump for the 90-day pause on new tariffs that were to be levied on Indian products. Negotiations are expected to continue after that for a bigger trade deal to be signed in September-October.
The US is seeking broader market access for its agricultural and dairy products, but for India, this is a livelihood issue for the country’s small farmers and hence is considered a sensitive area. India may allow the import of select agricultural products, such as almonds, as these are already flowing into the country.
