A visit by a delegation from the US for the next round of trade talks with India on August 25 has been rescheduled to a later date, a government official said.
The next round of discussion was expected in New Delhi for further negotiations on the proposed Bilateral Trade Agreement (BTA) between India and the US.
“It will be rescheduled and is not happening on August 25 as planned earlier,” this official said.
The two nations opened trade talks in March and have held five rounds of negotiations, with the last one held in July in the US. The deadline for the proposed BTA is Fall of this year.
Rescheduling of talks is crucial since an additional 25 percent tariff on India is expected to kick in from August 27, taking the total rate to 50 percent.
However, US President Donald Trump has now indicated that his administration may not impose secondary duties on countries continuing to procure Russian crude oil.
This was after his meeting with Russian President Vladimir Putin on August 15 aiming for a ceasefire to end the war in Ukraine.
While, the meeting was inconclusive, Trump is expected to meet Ukrainian President Volodymyr Zelensky in Washington on August 18 to further talks for a peace deal with Russia.
Most Indian goods to the US are presently facing a 25 percent tariff. India aims to lower the levies on its exports through the trade deal with America.
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