India-US Trade Deal Finalized, Formal Declaration Likely Next Month
New Delhi/Washington (The Uttam Hindu): An important interim trade agreement between India and America can be announced on July 8. According to sources, the two countries have already reached an agreement on the terms of this agreement. On behalf of India, this dialogue was led by Rajesh Agarwal, Special Secretary of the Department of Commerce. It is said that during the talks held in Washington, an agreement was reached between the two countries under this leadership.
Trade deal locked… Agreement reached on terms of trade agreement between India and America, announcement possible on July 8: This agreement is coming at a time when the deadline for the reciprocal tariff imposed by the US is going to expire on July 9. It is worth noting that on July 2, US President Donald Trump had imposed reciprocal tariffs on several countries, including India.
Amid growing opposition to tariffs, the US had suspended the 26 percent reciprocal tariff imposed on India till July 9. However, the original tariff of 10 percent is still in force. India was trying to get complete exemption from this additional 26 percent tariff. If everything goes as per schedule, this agreement will not only provide economic relief to India but will also give a new direction to bilateral trade relations.