By Admin 
US India Trade Talks: The two main negotiators between India and America will hold four-day discussions from Monday. The trade deal agreement between the two countries will be finalized. The US delegation will be led by chief negotiator Brendan Lynch. Darpan Jain from India is Additional Secretary in the Commerce Department, he will be the main interlocutor in this discussion. This dialogue will run between June 1 and 4.
The Commerce Ministry has said that both sides will negotiate on many areas under the comprehensive BTA to finalize the agreement. These include proposals related to markets, non-tariff measures, customs duties, business facilities, investment and economic security.
America and India issued a joint statement on February 7
Earlier on February 7, India and America had issued a joint statement. In this, the outline or framework of the first phase of a bilateral trade agreement or an interim trade agreement was finalized. Now both will finalize that deal legally. This framework has reaffirmed the trade commitment between the two countries.
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America agreed to reduce 50 percent tariff to 18 percent?
According to that framework, America had agreed to reduce the tariff imposed on India from 50 percent to 18 percent. America had earlier removed 25 percent tariff on Indian goods for buying Russian oil. Under the agreement, 25 percent was to be reduced to 18 percent.
Here, on February 20, the Supreme Court of America had canceled the reciprocal tariff imposed by the President. These tariffs were imposed under the International Emergency Economic Powers Act of 1977. After this, on February 24, Trump had announced to impose 10 percent tariff on all countries for 150 days. To take these discussions forward, a team from America will stay in India from June 1 to 4.
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