The move comes after Trump struck a more conciliatory tone in statements last week and expressed optimism that they could finalise a trade deal.
INDIA and the US will hold trade talks on Tuesday (Sep 16), New Delhi said, raising hopes for a breakthrough weeks after US President Donald Trump imposed punitive tariffs on the South Asian nation for buying Russian oil.
The move comes after Trump struck a more conciliatory tone in statements last week and expressed optimism that they could finalise a trade deal.
Brendan Lynch, the US trade representative for South Asia, will be in New Delhi for one day of talks, Indian chief negotiator Rajesh Agarwal said. The talks will be held as part of bilateral trade negotiations, Agarwal added, without going into more detail.
Trump last month slapped a punitive 25 per cent levy on India from Aug 27, doubling overall tariffs to 50 per cent, as part of Washington’s efforts to step up pressure on Moscow over its invasion of Ukraine.
India’s exports to the US fell to US$6.86 billion in August from US$8.01 billion in July, trade ministry data released on Monday showed.
Total goods exports fell to a nine-month low of US$35.1 billion in August, from US$37.24 billion in July, while the trade deficit narrowed to US$26.49 billion.
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The full impact of higher tariffs from the US on Indian goods imports will be felt next month as the punitive tariffs kicked in from Aug 27, exporters said.
New Delhi’s discord with Washington has coincided with increased contacts with Beijing. Indian Prime Minister Narendra Modi visited China for the first time in seven years last month, to attend a summit hosted by Chinese President Xi Jinping.
Modi was also seen holding hands with Russia’s President Vladimir Putin.
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An earlier US visit to New Delhi, planned from Aug 25 to 29, was cancelled after talks hit major roadblocks, as New Delhi resisted opening its vast agricultural and dairy sectors.
But Sergio Gor, Trump’s nominee to be ambassador to India, said last week that the two sides were “not that far apart” on tariffs, and differences would be resolved in the next few weeks.
