India in 'regular contact' with US on trade deal
India maintains ongoing contact with the United States in discussions regarding a bilateral trade agreement (BTA), according to Commerce Secretary Rajesh Agarwal. Both nations reaffirmed their commitment to the framework deal finalized in February, despite shifts in the US tariff landscape that have necessitated renewed negotiations.
The US Supreme Court's decision overturning President Donald Trump's reciprocal tariff structure further complicates the timeline. India currently faces a 10 percent duty on its goods under a Section 301 probe examining alleged forced labor concerns in the US. Meanwhile, the US Senate's Russian oil tariff bill, which would impose 100 percent tariffs on goods from India and China due to alleged funding of Russia's war in Ukraine, remains a matter of concern.
Agarwal stated that a successful trade deal would provide greater stability and predictability for businesses in both countries, emphasizing the importance of a comparative tariff advantage for India to compete with other exporters in the US market.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
