Tariff deadline Aug 1, US team to visit India in 2nd half of month

NEW DELHI: Even because the Aug 1 deadline set by Trump looms, a team of US negotiators will visit India solely in the second half of Aug with prime officers indicating that India is a bilateral commerce settlement by Fall.The govt has not commented on the final week’s talks in Washington, however by all indications, negotiators have failed to make a lot headway on the contentious concern of permitting American agriculture and dairy merchandise, which have been clearly marked as no-go areas by India.Besides, India has been demanding that it ought to get an excellent deal in areas of pursuits corresponding to textiles, footwear, sure auto components and shrimps and is unwilling to accept sub-optimal options. The US has been insisting on concessions for agricultural merchandise corresponding to maize and soybean, most of which is genetically modified, one thing that India doesn’t enable.In latest days, Trump has claimed {that a} take care of India can be finalised quickly. Although it’s unclear if talks for a deal earlier than Aug 1 deadline will happen just about, it stays to be seen how the American president responds, provided that he has been sending tariff letters to international locations which haven’t signed agreements thus far.In truth, the transparency in the offers being signed by Trump is one other concern with govt, provided that the US has finalised offers with Vietnam and Bangladesh, the place the non-disclosure clauses are stopping them from being made public whereas the American president claims victory.On April 2, Trump had introduced a 26% reciprocal tariff on Indian merchandise, solely to droop it until July 9 and introduced Aug 1 as the brand new date for the upper levies to kick in. For India too, the stakes are excessive, provided that the US is its largest export market.