Expectation of trade deal in Indo-US before August 1, fifth round of talks complete, this good information came
India and America The trade deal can be agreed soon. In fact, India and the US teams have completed the fifth round of talks in Washington on July 17 for the proposed bilateral trade agreement (BTA). An official gave this information. The dialogue lasted in Washington for four days (14–17 July). The official said that the Indian team is coming back. Rajesh Agarwal, the chief negotiator of India and Special Secretary in the Department of Commerce, is leading the talks team. After this end, this question is now in everyone’s mind whether there will be a trade deal between the two countries before August 1. This is because the last day of the suspension period of US President Donald Trump’s fee (26 percent), imposed on dozens of countries including India, is 1 August. Experts say that the two countries want to agree on the trade deal before the end of this deadline. Therefore, this time there is a lot of hope that both countries should finalize the trade deal before 1 August.
India clarified its stand
On 2 April this year, Trump announced these high retaliation. The implementation of high fees was immediately postponed for 90 days till 90 days and then until August 1 as the US is negotiating business agreements with many countries. In the fifth round of talks, issues related to agriculture and vehicle were discussed. Non-Bazar economies and methods of dealing with ‘scumat’ (special chemistry, organisms, materials, equipment and technology) were also discussed. India has tightened its stand on the US demand for concession in fees on agriculture and dairy products.
Agricultural products are not agreed
The proposed trade agreement of India and America remains a deadlock over agricultural products. Some farmer organizations have appealed to the government not to include issues related to agriculture in the agreement. India is demanding the removal of additional fees (26%) on steel and aluminum (50%), vehicles (25%), and other products. India has clarified that if the matter is not made, it will reserve the right to impose retaliation under the WTO rules.
In this deal, India wants tariff concessions in labor, gems and jewelery, leather, apparel, plastic, chemicals, shrimp, oilseeds, grapes and bananas. On the other hand, the US demands that it be discounted on products like industrial goods, vehicles (especially electric), wine, petrochemicals, agricultural products, dairy, apple, dry fruits and GM crops.
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