The Daily Populous Saturday April 12nd, 2025 day edition
Authored by hindustantimes.com and submitted by Mundane-Laugh8562

India and the United States have purportedly finalised the terms of reference for talks on the first segment of a bilateral trade agreement and were ahead of other countries in negotiating with America, reported Reuters, citing an anonymous official. The US and India have finalised the rules for the first phase of their bilateral talks, amid a 90-day pause on tariffs(REUTERS)

The deal between the two countries, which could be finalised in the next 90 days, was described as potentially having a “win-win shape and form,” by a trade official cited by Reuters.

Follow LIVE updates on Trump's tariff war here

"We are far ahead in trade talks with the UScompared to other countries… there are lots of possibilities in 90 days," said the official.

The US is India's largest trading partner and two-way trade between the countries was more than $118 billion in 2023-24.

Donald Trump's administration had announced a 26 per cent tariff on Indian products last week, and India had not imposed any retaliatory tariffs on the country. The US President has issued a pause in the tariffs for certain countries, including India, to negotiate favourable deals that could lead to lowering of tariffs.

Trade engagements between the US and India will continue virtually and regularly, a trade official told Reuters.

While India has been hit with tariffs as well, the Centre has moved fast to enter negotiations with the Donald Trump administration and reiterate that their common rival is China.

Also Read: Donald Trump's 26% ‘reciprocal tariffs’ on India come into effect

Union commerce minister Piyush Goyal said earlier this week that manufacturers in India and the US have suffered from China's unfair trade practices over the years.

"India is one of the first nations to start talks over a deal with the United States and to have jointly agreed to a deadline to conclude it," Reuters quoted an official as saying.

An official also told news agency PTI that Indian customs have been alerted “about monitoring our exports and imports to see if there is any extraordinary surge. India should not be used as a re-routing destination".

In February, India and the US had agreed to work on the first phase of a trade deal to be concluded late this year, with a view to reaching two-way trade worth $500 billion by 2030.

Donald Trump, while announcing the tariffs said, “Their Prime Minister [Narendra Modi] just left [US recently]. He is a great friend of mine, but I said to him that 'you're a friend of mine, but you've not been treating us right'. India charges us 52 per cent, so we will charge them half of that - 26 per cent.”

Adorable-Puff on April 12nd, 2025 at 05:54 UTC »

These bureaucrats talk a lot and do little. There is no need to announce anything until its finalised considering how fast the Trump admin changes its mind.

RajaRajaOne on April 12nd, 2025 at 05:26 UTC »

I wish the Indian officials just finished things and then leak things. I am always wary of our officials using backchannels for signalling instead of just putting out a statement when they are done.

That being said.

Indians will want to take advantage of an opportunity to break through some of its own historical baggage wrt trade barriers and defence imports.

Hopefully, we also ease up on the GMO issue. For f sake, the increased productivity in the agriculture sector alone will shake most of those markets where India plays today.

Play to Trump's ego, play to Trump's minions need for market access, play to America hawks looking at Indo-Pacific primacy. All of this India can do better than playing to Biden's holier than thou attitude that always ended in an impasse on human rights issues.

Mundane-Laugh8562 on April 12nd, 2025 at 05:15 UTC »

SS: India and the United States have purportedly finalised the terms of reference for talks on the first segment of a bilateral trade agreement and were ahead of other countries in negotiating with America, reported Reuters, citing an anonymous official.

The deal between the two countries, which could be finalised in the next 90 days, was described as potentially having a “win-win shape and form,” by a trade official cited by Reuters.

Donald Trump's administration had announced a 26 per cent tariff on Indian products last week, and India had not imposed any retaliatory tariffs on the country. The US President has issued a pause in the tariffs for certain countries, including India, to negotiate favourable deals that could lead to lowering of tariffs.