Page 7 - Us Trade Deals

India has already agreed to drop its high tariffs to nothing: Donald Trump

US President Donald Trump on Tuesday said India has agreed to drop its high tariffs to nothing. I mean, India as an example, has one of the highest tariffs in the world. We're not going to put up with that, and they've agreed already to drop it. They'll drop it to nothing. They've already agreed. They would have never done that for anybody else but me, Trump told reporters in the Oval Office. Trump and visiting Canadian Prime Minister Mark Carney spoke to reporters as they met in the Oval Office to discuss the US-Canada trade. So we're going to put down some numbers and we're going to say our country is open for business and they're going to come in and they're going to pay for the privilege of being able to shop in the United States of America. It's very simple. It's very simple, he added. In the past, Trump has called India tariff king and a big abuser. Last month, Trump had said that negotiations with India over a bilateral trade deal are coming along great and he thinks we'll

US trade deficit swells to record high amid rush to beat tariffs in March

Economists polled by Reuters had forecast the trade deficit rising to $137.0 billion from the previously reported $122.7 billion in February

Dollar under pressure as fading trade hopes boost rise of Asian currencies

The dollar was last down 0.5% on the Japanese yen at 142.99, and also lost ground versus European currencies with the euro and pound both up 0.2% at $1.1341 and $1.3328 respectively

India-US trade pact's terms of reference includes about 19 chapters: Report

The terms of references (ToRs) finalized by India and the US for the proposed bilateral trade agreement include around 19 chapters covering issues such as tariffs, goods, non-tariff barriers, and customs facilitation, official sources said. To give further impetus to the talks in the 90-day tariff pause window, an Indian official team will be visiting Washington next week to iron out differences on certain issues before formally launching negotiations for the proposed India-US bilateral trade agreement (BTA). India's chief negotiator, Additional Secretary in the Department of Commerce Rajesh Agrawal, will lead the team for the first in-person talks between the two countries. Agrawal was appointed as the next commerce secretary on April 18. He will assume office from October 1. The three-day Indian official team's talks with the US counterparts in Washington will start from Wednesday (April 23). "Both sides will discuss the level of ambition. The ToRs will be further developed and .

Keir Starmer holds 'productive' talks with Trump on UK-US trade deal

British Prime Minister Keir Starmer said he and President Donald Trump held productive talks on the ongoing discussions towards a trade agreement with the US to address the hefty import tariffs imposed by the American administration on countries around the world. Downing Street said the phone call on Friday also covered the Russia-Ukraine conflict and the recent US strikes on a Yemeni port to target Houthi rebels. The call came soon after Trump told reporters at the White House that his proposed second State Visit at the invitation of King Charles III is expected in September, a timeline yet to be confirmed by Buckingham Palace. The prime minister spoke to the President of the United States, Donald Trump, this afternoon, a Downing Street spokesperson said in a readout of the call. The leaders began by discussing the ongoing and productive discussions between the UK and the US on trade. The prime minister reiterated his commitment to free and open trade and the importance of protect

Industry bodies seek immediate safeguards against influx of Chinese goods

Chinese imports of medical devices, viscose staple yarn, and gloves surge; industry seeks urgent anti-dumping measures

India wants to seal US trade deal with an 'urgency' not seen before

During Modi's visit to the White House in February, India and the US had said that they plan to sign a trade deal by the fall of this year

India aims to negotiate US trade deal by fall: Jaishankar on Trump tariffs

External Affairs Minister (EAM) S Jaishankar noted that as every country is tariffed, each is fashioning its own strategy to deal with the US

India's US ethanol ban flagged by USTR as major 'unfair trade practice'

United States Trade Representative lists unfair trade practices across several nations, flags India's ethanol import ban among key barriers affecting US exporters

India, US to hold sectoral talks under trade pact in coming weeks: Govt

India and the US have decided to hold sectoral talks under the proposed bilateral trade agreement (BTA) in the coming weeks, the commerce ministry said on Saturday. It was decided after the four-day negotiations of senior officers from India and the US. These negotiations ended on Saturday here. "Sectoral expert-level engagements under the BTA will start virtually in the coming weeks and pave the path for an early negotiating round in person," the ministry said. In order to realise the shared objective of promoting growth that ensures fairness, national security and job creation, both sides have through four days of discussions here broadly come to an understanding on the next steps towards a mutually beneficial, multi-sector BTA, with the goal to finalise its first tranche by fall 2025, it said. During these discussions, the two sides held a productive exchange of views on deepening bilateral cooperation in priority areas, including increasing market access, reducing tariff and ..

India, US officials conclude round of talks on proposed trade pact: Report

India and the visiting US officials have concluded a round of talks on Saturday for the proposed bilateral trade agreement, government sources said. They said the negotiations are progressing well. A team of US officials, headed by Assistant US Trade Representative for South and Central Asia Brendan Lynch, was here for negotiations on the proposed agreement. On Friday, US President Donald Trump described Prime Minister Narendra Modi as a "very smart man" and a "great friend of mine" while emphasising that tariff talks would "work out very well between India and our country". The remarks assume significance since Trump has repeatedly criticised the alleged high tariffs charged by India and other countries on American goods. He has announced plans to impose reciprocal tariffs on its key trading partners, including India, on April 2. "India is one of the highest tariffing nations in the world. It's brutal, it's brutal. They're very smart. He (Modi) is a very smart man and a great fri

Donald Trump's tariff cut hopes from India too ambitious: Mark Linscott

No country's exporters favour new tariffs and there can be real impacts, especially for price-sensitive sectors that face plenty of competition in global markets, Linscott said

India, US to focus on increasing market access, lowering duty: Minister

In a written reply to the Lok Sabha, Prasada also mentioned that as of date, US reciprocal tariffs have not been imposed on India, the deadline for which is April 2

Senior US trade official Lynch on 5-day visit to India from March 25

Brendan Lynch, the assistant US trade representative for South and Central Asia will pay a five-day visit to India beginning Tuesday to discuss issues relating to trade and tariff between the two countries. Lynch's visit comes days ahead of coming into force of reciprocal tariffs announced by US President Donald Trump. The senior US trade official is expected to hold talks with Commerce Minister Piyush Goyal besides meeting a number of senior Indian officials, it is learnt. The two sides are also expected to hold negotiations to firm a framework for a bilateral trade pact that would address issues relating to levies and market access. "Assistant US Trade Representative for South and Central Asia Brendan Lynch, along with a team of US government officials, will be in India from March 25-29 for meetings with Indian interlocutors as part of ongoing bilateral trade discussions," a US official said. "This visit reflects the United States' continued commitment to advancing a productive

The real culprit on trade: China, not Trump, broke trading system

The interregnum of a Democratic administration under President Joe Biden did little to reverse Mr Trump's original actions destabilising the global trading order

India accelerates efforts to finalise bilateral trade deal with US

New Delhi working on ways to reduce average applied tariff

'Premature to talk about details of negotiations on Indo-US trade deal'

Negotiations between India and the US for a trade deal have just begun and it would be premature to talk about its details, government sources said on Saturday, hours after US President Donald Trump said India agreed to cut tariffs "way down". It is natural for both the countries to have their interests and sensitivities and these are legitimate matters for a discussion, the sources said. Last month, India and the US announced that they would negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) following talks between Prime Minister Narendra Modi and Trump in Washington DC. Commerce Minister Piyush Goyal was in the US this week to hold talks on the trade deal with his American counterpart as well as the US Trade Representative and their teams. Trump's announcement on Friday that India agreed to bring tariffs "way down" was largely viewed by New Delhi as premature. "India charges us massive tariffs, you can't even sell anything in India, it's almost ...

India, US in process of advancing discussions on multi-sector BTA, says MEA

The MEA further stated that its objectives is to bolster India-US trade across goods and services sector, increase market access and reduce tariff

House report reveals China's role in US fentanyl crisis, calls for action

Investigation reveals that nearly all illegal fentanyl ingredients are made by Chinese companies and then sent to Mexican drug cartels, which produce and distribute fentanyl in the US

'It's possible, it's possible': Trump hints at new trade deal with China

Trump signed a trade deal with China in January 2020. Under this agreement, China promised to protect US trade secrets, buy $200 billion worth of US products, and lower some trade barriers