Important trade talks between the US and India have been postponed for the present. The visit of American trade negotiaters from 25 to 29 August has been canceled. The purpose of this visit was to carry forward the ongoing dialogue between the two countries on the trade agreement.
Why the talks postponed?
According to a source, the cancellation of this dialogue will delay negotiations on the proposed trade agreement. Apart from this, the hopes of getting relief from additional American tariffs on Indian goods since August 27 have also come down. The US embassy has refused to give any further information on the matter, as the case is with the United States Trade Representative (USTR). India’s Ministry of Commerce has also not responded immediately to this.
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What is the whole matter?
Earlier this month, US President Donald Trump imposed an additional 25% tariff on Indian goods. He said that the reason for this was stated to be constant importing Russian oil by India, which increased the tension between the two countries. This new tariff will be applicable from August 27. Subsequently, the total fee on some Indian exports will increase by 50%, which is one of the highest charges levied on any US trade partner.
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What is the interruption in the conversation?
India and America have so far had a five -round conversation, but it has not been successful. The main differences are about opening agriculture and dairy areas of India and buying Russian oil. India’s Foreign Ministry says that India is being unnecessarily targeted to buy Russian oil, while the US and the European Unions themselves are continuing to buy goods from Russia.