The United States has called off trade talks with India that were scheduled to take place in New Delhi from August 25 to 29, according to media reports.
Negotiations between India and the United States for a trade agreement have been halted, Indian newspaper The Indian Express reported on Sunday, citing sources familiar with the situation. The upcoming round of talks, which was set to take place in late August, will now occur at a later date, Indian news channel NDTV reported.
Trade negotiations are crucial for India since the United States has imposed a 50% tariff on Indian goods – the highest on any country worldwide.
Indian traders have already begun paying a 25% tariff; however, the remaining 25% tariff is due to take effect from August 27.
The delay in negotiations is a blow to Indian manufacturers, who were hoping to get some relief before the imposition of the remaining tariff.
Tensions between India and the United States escalated when US President Donald Trump announced an additional 25% punitive tariff on Indian goods earlier this month, citing India’s import of Russian oil.
India and the United States have held five rounds of negotiations so far, which have resulted in a stalemate over disagreements on opening India’s vast farm and dairy sectors and halting Russian oil purchases.
Source: https://www.dw.com/en/us-trade-talks-with-india-paused-media-reports-say/a-73669970?maca=en-rss-en-all-1573-rdf
