India, US remain in regular contact on proposed trade deal: Commerce Secretary
India remains in regular contact with the United States regarding their proposed trade deal. Both nations are committed to the framework agreement reached earlier this year. The US recently imposed a ten percent duty on Indian goods due to labor concerns. Washington is also considering further tariffs on India for Russian oil imports. India continues to actively engage US authorities to resolve…
New Delhi, India is maintaining regular communication with the United States as both nations negotiate a proposed trade agreement, according to commerce secretary Rajesh Agrawal. The commerce and industry ministry stated that India remains actively involved in discussions with US authorities to address outstanding trade matters.
Agrawal emphasized that New Delhi and Washington are committed to the framework deal reached in February, despite the US levelling an additional 10% duty on Indian goods under a Section 301 probe following concerns of alleged forced labor. This duty is lower than the 12.5% tariff initially proposed by the US in June as part of a broader investigation under Section 301 of its Trade Act.
Furthermore, Washington is contemplating additional tariff action on India, along with five other countries, due to their ongoing imports of Russian oil and investigations into New Delhi's excess production capacity under Section 301. Agrawal noted that the US's latest bill, allowing President Donald Trump to impose 100% tariffs on goods from the top five importers of Russian oil and gas, is a legislative process within the US that is currently underway.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
