Expressing confidence in the India-US trade deal, Commerce Minister Piyush Goyal on Wednesday said that relations between the two countries remain positive. He cited the friendship between Prime Minister Narendra Modi and US President Donald Trump, and expressed confidence that all issues would be resolved satisfactorily.He emphasised the continued positive nature of relations with the United States.“We have been holding discussions for the last few months. Yesterday, a US representative was here. Talks are going on. President Donald Trump also wished Modi on his birthday. India and the US are friendly countries; our leaders are friends. Every situation will be addressed satisfactorily,” Goyal added.
Also Read | ‘Severe sectoral pain’: India’s exports to US fall for third straight month as Trump imposes 50% tariffs; what should be the policy response?The bilateral relationship became strained after Trump levied 50 per cent duties on Indian products. The relationship deteriorated further as Trump’s officials intensified their criticism of India regarding its Russian oil purchases, suggesting it provided financial support for the Ukraine conflict.
India-US trade talks positive
Following a “positive meeting” between trade negotiators from India and America on Tuesday, both parties have agreed to strengthen their efforts towards establishing a bilateral trade agreement, indicating reduced friction ahead. During the past 10 days, as US President Donald Trump adopted a more conciliatory stance, India’s principal negotiator Rajesh Agarwal and colleagues engaged with a USTR team led by Brendan Lynch in comprehensive discussions, with sources indicating progress in negotiations.“Acknowledging the enduring importance of bilateral trade between India and 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,” said the commerce department following the significant meeting.Sources told TOI that subsequent discussions will transition to virtual platforms, with both parties expected to confirm dates for the sixth round of negotiations, originally planned for August 25, but postponed due to tariff actions against India.The joint statement brings optimism to exporters hoping for the US to remove the 50% tariffs on Indian goods, which currently affects domestic manufacturers. The United States represents India’s primary export destination, with previous year’s shipments valued at $86 billion, of which 40-45% currently face increased duties.Also Read | ‘Positive & forward looking’: India & US decide to intensify efforts for early trade deal; stress importance of bilateral tradeWhilst Indian products faced 25% “reciprocal tariffs” since early August, the charges doubled near the month’s end due to “secondary sanctions” implemented by Trump following India’s Russian oil purchases.Trump has criticised India as “tariff king” for maintaining high import duties and pressures the government to reduce levies on specific items including automobiles, whiskey, dairy and agricultural products.Although the government appears willing to reduce duties on industrial products, it remains cautious regarding agricultural items such as maize and soybean, along with dairy products.
