A US trade representative described India as a 'tough nut to crack' during trade agreement negotiations in Washington, highlighting India's protection of its agricultural markets and the ongoing discussions on specific commodities.
India and the United States have reviewed progress on a proposed interim bilateral trade agreement, discussing market access, digital trade, and non-tariff barriers, as they race to finalise a deal before a temporary 10 per cent US tariff regime expires on July 24.
India and the US have reported positive progress in recent trade talks in Washington, agreeing to maintain engagement to finalise a bilateral trade agreement, which now requires recalibration following new US tariffs.
The US has threatened to prosecute those buying or selling sanctioned Iranian oil and has announced a blockade of the Strait of Hormuz after peace talks failed.
Chief negotiators from India and the US are set to begin three-day talks in Washington to recalibrate the bilateral trade agreement (BTA) framework, following significant changes in the US tariff landscape, including a new 10 per cent tariff imposed on all countries.
The verdict marks a notable shift from a series of recent wins for Trump at the Supreme Court.
The White House has revised a fact sheet on the interim trade deal between the United States and India, removing the reference to "pulses" from the list of American products on which India would eliminate or reduce tariffs. The revised sheet also changed "committed" to "intends" regarding India's purchase of American products.
The ruling is expected to have wide-ranging consequences for global trade, businesses, consumers, inflation trends and household finances across the country.
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
For the first time in the last eight years, India would not have any representative for the post of deputy director general.
