US trade negotiations scheduled with India's Goyal
The trade relationship between India and the United States is under the spotlight, with both countries intensifying efforts to reach a deal. The U.S. visit on September 16 marked a significant step towards this goal, as both teams engaged in trade discussions.
According to the Indian side, the discussions held on Tuesday were described as 'positive' and 'forward-looking', raising hopes for a breakthrough. The U.S. team of officials, who visited India on the said date, also reported positive progress.
The tariffs, however, remain a potential obstacle in the ongoing negotiations. The U.S. doubled tariffs on Indian imports to as much as 50% on August 27, as part of Washington's efforts to step up pressure on Moscow over its invasion of Ukraine. The increased tariffs affect various Indian imports.
The tariffs are a part of the U.S.'s broader strategy to influence global oil trade, as India's purchases of Russian oil triggered the move.
Meanwhile, the trade talks between India and the EU are making rapid progress, according to New Delhi. The EU trade chief is heading to India soon.
Amidst this, the trade negotiations between India and the U.S. are set to continue. Indian Commerce Minister Piyush Goyal will travel to the United States on September 22 to participate in further trade talks, as per the announcement by India's Ministry of Commerce and Industry.
The hope for a breakthrough is not just due to the forward-looking nature of the trade discussions held on Tuesday, but also due to the positive nature of the discussions held during the U.S. visit on September 16. The U.S. visit on September 16 was significant, as it was decided to intensify efforts in regards to the trade deal during this visit.
The ongoing trade tensions between the U.S. and India are a part of a broader geopolitical landscape, but the focus remains on finding a mutually beneficial solution that can strengthen the trade relationship between the two nations.
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