The Prime Minister Narendra Modi led Union government has seemingly secured a major diplomatic win as US officials, currently in New Delhi for trade talks, have noted that India will not be clubbed with China, Mexico and Canada from the list of countries bracing the hit of Donald Trump’s reciprocal tariffs.
Strikingly, on Wednesday, the US officials met their counterparts in Delhi for a first in-person meeting to negotiate a bilateral trade agreement – a process now put on “fast track”, Hindustan Times quoted a person aware of the matter saying.
As per the news portal, US officials have assured the Indian side that India will not be treated like China, Mexico and Canada as the Trump Reciprocal tariff deadline nears.
“It is now amply clear that the Trump administration does not club India with countries like China, Mexico and Canada. There is a difference,” one of these officials with direct knowledge of the matter said, as per HT.
This person added, “The US has serious issues with China, Mexico and Canada related to currency manipulations, illegal migration and other security concerns. But with India it has only tariff issue, that too both are resolving amicably.”
Formally named “India-US Fast Track Mechanism”, the India US trade talks have been led by commerce ministry’s additional secretary Rajesh Agarwal on the Indian side and the US team is being led by assistant trade representative Brendan Lynch. It is expected that the basic contours for a bilateral trade agreement (BTA) will take shape by Friday.
“The discussions were progressing in a cordial spirit and the outcome is expected to be satisfying for both the governments. This (the outcome) could be factored in by the Trump administration before deciding reciprocal tariffs on India on April 2 deadline”, the Hindustan Times report cited the above person as saying.
A second official added that part of the efforts includes another high-level trip that, this time, includes Union finance minister Nirmala Sitharaman visiting Washington later in April.
This person further stated, “The finance minister’s US visit may build upon the ongoing talks, but it may not be limited to trade and tariff alone. India and the US are committed to strengthen their overall economic relationship – both bilateral and multilateral — as strategic partners.”