NEW DELHI (Sputnik) – A US delegation will visit New Delhi in the next few days to resume bilateral talks with India on trade tariffs, The Economic Times reported citing an informed source.
“Things are moving after the G20 summit. USTR [United States Trade Representative] officials will come to India for talks in the next few days”, the source said, as quoted by The Economic Times in an article published on Tuesday.
According to the media outlet, the agenda of the upcoming trade talks has not been fully coordinated yet.
“There are many issues … the agenda is not final yet”, the source said.
This will be the first round of trade talks between the two nations after India imposed increased customs duties in mid-June on as many as 28 US products. These measures were announced in retaliation against Washington’s high tariffs on imported steel and aluminium.
The decision to continue trade talks was made on the sidelines of the G20 summit in the Japanese city of Osaka in late June, where US President Donald Trump and Indian Prime Minister Narendra Modi held a bilateral meeting. After the talks, both leaders expressed hope that they would be able to resolve existing trade disagreement, including with regard to previously introduced tariffs.
The United States imposed 25 percent and 10 percent tariffs on imported steel and aluminium, respectively, in March 2018. India immediately condemned the move since the country was one of the largest steel producers in the world. India’s retaliatory duties were initially announced last June, but the government postponed their introduction six times in view of the trade dialogue between the two countries.