Page 9 - Trade Talks

Experts call for faster India-US trade talks to unlock market potential

India should accelerate discussions for the proposed bilateral trade agreement with the US as the deal could help secure preferential market access, improve investor protections, and encourage technology partnerships between the two countries, experts said on Monday. They also said that the pact is critical for India to address long-standing non-tariff barriers in sectors like chemicals, telecom equipment, and medical devices, which were explicitly flagged in the US tariff statement. Mutual Recognition Agreements (MRAs) for standards and testing protocols could be a strategic step forward in reducing regulatory friction and improving market access in these sensitive sectors, they added. Even though the new US tariffs might put short-term pressure on India's key export sectors, the broader strategic landscape offers significant long-term advantages, Rudra Kumar Pandey, Partner, Shardul Amarchand Mangaldas & Co, said. He said that India can leverage its differential tariff exposure,

India unlikely to impose counter-tariffs as US trade talks progress: Report

In the days after Trump's tariff announcement that has shaken global markets to their core, India joined nations like Taiwan and Indonesia in ruling out counter tariffs

Trump speaks with India, Vietnam, Israel on trade deals ahead of deadline

While US President Donald Trump had initially framed tariffs as non-negotiable, he later hinted at possible compromises

India, EU to step up trade talks after US imposes reciprocal tariffs

The geopolitical uncertainties are forcing European nations to scout for new markets, including India, considering it is one of the fastest-growing large economies

India, Uganda hold 3rd Joint Trade Committee meeting to boost ties

Both sides acknowledged that the current trade volume does not reflect the full potential of their partnership and committed to taking focused measures

India must tread carefully in US trade talks amid legislative risks: GTRI

India must be cautious while negotiating the proposed bilateral trade agreement with the US, as the absence of Fast Track Trade Authority in America makes any pact vulnerable to Congressional changes, economic think tank GTRI said on Tuesday. It also said that the certification process allows the US to effectively re-negotiate the trade agreement after it is signed, demanding domestic legal changes, regulatory reforms, and policy shifts that could undermine India's sovereignty. "As negotiations continue, the path forward demands not only diplomatic skill but also vigilance against legal asymmetries embedded in America's trade playbook," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. Without the Fast Track Authority in place and with the precedent of post-agreement certification allowing the US to impose additional demands, the risk of asymmetric obligations is real, he added. The US Fast Track Trade Authority (also known as Trade Promotion Authority) is a ...

Customs rule changes may increase compliance costs for importers: GTRI

The amendments in the customs rules to tighten checks on goods imported under free trade agreements (FTAs) could make it harder for businesses to do imports at concessional duties and may increase compliance cost, economic think tank GTRI said on Sunday. However, it said the move would curb the misuse of FTAs as India has seen repeated instances where goods originating from non-FTA countries, such as China, were rerouted through FTA member countries like Vietnam or Singapore to exploit preferential duty benefits. On March 18, the Ministry of Finance issued a notification, introducing amendments to the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR). The amendment replaces the term, "Certificate of Origin" (CoO), with a broader term, "Proof of Origin", across various rules and forms under the CAROTAR framework, the Global Trade Research Initiative (GTRI) said. "This change comes in conflict with the several existing FTAs with ASEAN etc where

India has agreed to cut tariffs, says Trump amid bilateral trade talks

India and the US are holding discussions on a bilateral trade agreement (BTA) aimed at reducing tariff and non-tariff barriers

Will keep India's interests on top in US trade talks: FM Sitharaman

Says govt seized of potential reciprocal tariff problems

Xi Jinping prepares to unveil China's stimulus plan as trade war heats up

Thousands of delegates including ministry chiefs and provincial leaders will gather Wednesday in Beijing for the parliamentary conclave

Donald Trump heads toward tariff barrage on Canada, Mexico, and China

The long-promised tariffs scheduled to take effect Tuesday would easily be among the most sweeping of the Trump era

Commerce minister Piyush Goyal to meet USTR ahead of tariff rollout

During US visit, commerce minister also expected to meet his US counterpart

India, EU to push for long-pending free trade agreement by 2025-end

The trade deal will be accompanied with pacts on investment protection and geographical indicators

EU seeks stronger commitment from India on reducing 'high' import tariffs

The discussion on the FTA will signal the 'broader political commitment' from both leaders and set the stage for the 10 round of negotiation in Brussels during 10-14 March, after a six months hiatus

Pace of India-Asean trade agreement review talks slow; next round in April

The next round of negotiations for reviewing the India-Asean free trade agreement in goods is expected in April, though the pace of talks is slow, an official said. A free trade agreement in goods between India and the 10-nation bloc ASEAN (Association of Southeast Asian Nations) was signed in 2009. The ASEAN trade deal came into force in January 2010. In August 2023, both sides announced a complete review of the existing agreement in goods by 2025. "The pace of talks is slow," the official said. ASEAN as a group is India's one of major trade partners with about 11 per cent share in the country's global trade. The review of the agreement is a long-standing demand of Indian industry and India is looking forward to an upgraded pact which will address the current asymmetries in bilateral trade and will make trade more balanced and sustainable. India is asking for the review to eliminate barriers and misuse of the pact. ASEAN members include Brunei, Cambodia, Indonesia, Laos, Malays

India, Myanmar discuss possibility of resuming border trade through roads

India and Myanmar have discussed the importance of resuming border trade through roads and agreed to take steps on this issue, an official statement said on Sunday. The issue was discussed during a meeting between Myanmar's Deputy Commerce Minister U Minn Minn and Minister of State of Commerce and Industry Jitin Prasada here on February 14. They discussed possibilities to increase cooperation in areas such as pharmaceuticals, pulses, petroleum products and greater use of the recently launched Rupee-Kyat trade settlement mechanism. "During the meeting, both the leaders deliberated on the potential areas of collaboration to promote bilateral trade and also acknowledged the importance of resuming border trade through roads and agreed to take steps on this issue," the commerce ministry said. India is the fifth-largest trading partner of Myanmar. The bilateral trade stood at USD 1.74 billion in 2023-24 against USD 1.76 billion in 2022-23.

Trump's reciprocal tariffs: A US gamble that could disrupt global trade

India could reduce its tariffs to zero on these products in exchange for the U.S. doing the same, which would be an immediate benefit for India

Reciprocal tariffs by Trump admin may not hurt India much, says GTRI

The US government's move to impose reciprocal tariffs to match higher duties levied by its trading partners is not likely to hurt India much as there are differences in the export profiles of the two countries, economic think tank GTRI said on Friday. Citing an example, the Global Trade Research Initiative (GTRI) said that if the US charges 50 per cent reciprocal tariffs on Indian pistachios because India charges the same, India is happy as it does not export pistachios. Additionally, for 75 per cent value of the US exports to India, the average tariff is less than 5 per cent, GTRI Founder Ajay Srivastava said. In contrast, India faces high US tariffs on many labour-intensive goods like textiles, garments, and footwear, ranging between 15-35 per cent on several products, he added. "Given the differences in the export profiles of the two countries, reciprocal tariffs may not have a significant impact...In the new Trump era, India may wait to see the US decision in April on reciproca

Centre vows to avoid protectionist signals on trade: Finmin official

India has been trying to placate the Trump administration after it accused the South Asian nation of maintaining very high tariffs that hurt prospects for American firms

Trump's tariff plans for Canada, Mexico carry higher stake than Colombia

Having already forced Colombia to accept deportees by threatening a 25 per cent tariff, President Donald Trump is readying the same move against Canada and Mexico as soon as Saturday. But this time, the stakes are higher and many economists surveying the possible damage doubt Trump would be comfortable with what they say would be self-inflicted wounds from the tariffs. The potential for such sizable economic impacts ought to act as enough of a deterrent that Trump will not end up implementing these higher tariffs, said Matthew Martin, senior US economist at the consultancy Oxford Economics. Trump has repeatedly insisted that tariffs are coming on Canada and Mexico, despite both countries seeking to address his stated concerns about illegal border crossings and the smuggling of fentanyl. But the Republican president is also motivated by the idea that tariffs would force other countries to respect the United States. We're going to immediately install massive tariffs," Trump said in a