India-US Tariff Issue: Talks Ongoing, Sources Say
India and the US keep communication channels open to resolve the 50% tariff issue....
New Delhi ,:Sources have said that efforts are underway to resolve the India-US tariff issue, and all channels of communication between the two countries remain open.
The US had imposed an additional 25% tariff on certain Indian exports, citing the purchase of oil from Russia. Combined with the earlier 25% tariff from August 7, the total 50% tariff came into effect on Wednesday. Government sources emphasized that, given the diversity of Indian exports, the impact may not be as severe as feared.
The tariff is India-specific, with no mention of China, the largest buyer of Russian oil. It is among the highest tariffs imposed by the US, comparable to those on Brazil and China.
Sources also clarified that there is no compromise on India’s “red lines”, especially concerning farmers, fishermen, and small units. The long-term relationship between India and the US remains strong, and the current situation is seen as a temporary phase.
India and the US have been negotiating a Bilateral Trade Agreement (BTA) since March, completing five rounds of talks. The next round, originally scheduled for August 25, has been postponed by the US team.
