The talks on bilateral trade agreement between India and the US have been termed as “positive” by both the countries. This dialogue was held for the first time after Donald Trump imposed 50% tariff.
After the meeting held on Tuesday, the US Embassy spokesperson said, “Assistant US Trade Representative Brendan Lynch had a positive meeting in Delhi with his counterpart Ministry of Commerce and Industry Special Secretary Rajesh Agrawal on September 16 to discuss next steps in bilateral trade negotiations.”
The Ministry of Commerce and Industry also immediately issued a statement expressing the same sentiment and said that both the countries have decided to intensify efforts for the trade agreement. NDTV quoted the ministry saying, “Acknowledging the enduring importance of bilateral trade between India and the US, the discussions were positive and forward-looking, covering various aspects of the trade deal. It was decided to intensify efforts to achieve early conclusion of a mutually beneficial Trade Agreement.”
Brendan Lynch and his team reached India on Monday night. According to Indian government sources, this meeting is not the sixth round of talks on a trade deal between the two countries but a “precursor” to it.
The US-India relations deteriorated after the US announced on July 30 a 25% additional penalty on oil imports from Russia, along with a 25% duty, and implemented from August 27.
India has called these duties unfair and said it finds the logic behind them “perplexed” as China is the biggest customer of oil from Russia and the EU imports the most LNG from there. Statements by US President Donald Trump, who called India’s economy “dead”, and his advisor Peter Navarro, who described India’s oil purchases from Russia as “blood money”, also increased tensions.
However, there was a positive sign last week when Trump said that talks on a trade deal were ongoing and he expected it to be successful. Trump wrote on his social media platform Truth Social, “I am pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two Nations. I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks. I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!”
After this, Prime Minister Narendra Modi shared the same message on X. He wrote, “India and the US are close friends and natural partners. I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership. Our teams are working to conclude these discussions at the earliest… I am also looking forward to speaking with President Trump. We will work together to secure a brighter, more prosperous future for both our people.”
Also Read: Who is Brendan Lynch? Assistant US trade representative in India to resume trade talks
