NEW DELHI, March 29 (Reuters) – Indian and U.S.
officials discussed trade issues including the reduction of
tariffs and easing of non-tariff barriers, making progress
towards a bilateral trade agreement during several days of talks
in New Delhi, they said on Saturday.
The negotiations, led by officials from India’s commerce
ministry and a U.S. trade delegation headed by Brendan Lynch,
assistant U.S. trade representative for South and Central Asia,
were held from March 26-29.
Separately, U.S. Deputy Secretary of State Christopher
Landau spoke with Indian Foreign Secretary Vikram Misri about
efforts to reduce trade barriers and achieve a “fair and
balanced bilateral trade relationship”, while also strengthening
defence and technology cooperation to bolster regional security.
Landau thanked India for its efforts in addressing illegal
immigration to the United States and urged continued
cooperation, the U.S. Department of State said in a statement.
The talks come as U.S. President Donald Trump prepares to
impose reciprocal tariffs on multiple trading partners from
April 2, with India hoping for an exemption amid the bilateral
talks. Both countries aim to sign the first tranche of a
bilateral trade deal by autumn.
“The successful conclusion of the discussions reflects
progress in efforts to expand India-U.S. bilateral trade and
investment relations to promote prosperity, security and
innovation in both countries,” a statement by India’s commerce
ministry said.
Last month, during Prime Minister Narendra Modi’s visit to
Washington, India pledged to boost purchases of U.S. energy
products and defence equipment, and the two sides agreed to aim
for a deal targeting bilateral trade of $500 billion by 2030.
Trump has called India a “tariff king”, with the U.S.
wanting India to reduce levies on products ranging from
agricultural goods and alcoholic beverages to automobiles, and
seeking greater market access for U.S. companies.
Piyush Goyal, India’s trade minister, visited Washington
earlier this month for talks with U.S. Trade Representative
Jamieson Greer and Commerce Secretary Howard Lutnick.
Sector-specific expert engagements for the bilateral trade
agreement will begin virtually in the coming weeks, followed by
an in-person negotiating round, the joint statement said.
The U.S. currently has a $45.6 billion trade deficit with
India. While the U.S. trade-weighted average tariff rate stands
at about 2.2%, India’s average tariff is significantly higher at
12%, according to World Trade Organization data.
(Reporting by Manoj Kumar. Writing by Rupam Jain. Editing by
Mark Potter, Kirsten Donovan)
