US-India trade deal being finalised, will be announced soon, says White House
A trade deal between India and the United States is close to being finalised and will be announced soon, ANI quoted White House Press Secretary Karoline Leavitt as having said on Monday.
The statement came days before the 90-day suspension of tariffs announced by United States President Donald Trump is set to end on July 9.
“I just spoke to our secretary of commerce about it [India-US trade deal],” Leavitt said during a press briefing. “He was in the Oval office with the president. They are finalising these agreements.”
She added that an announcement from Trump and his trade team is expected “very soon”.
Trump’s so-called reciprocal tariffs imposed on several countries, including a 26% “discounted” levy on India, took effect on April 9. Hours later, however, Trump had reduced the rates on imports from most countries to 10% for 90 days to provide time for trade negotiations.
The US president had repeatedly said he intended to impose a reciprocal tax on India, among others, citing high tariffs the countries impose on foreign goods.
The tariffs had led to concerns of a broader trade war that could disrupt the global economy and trigger recession.
The Indian government has said that it is in talks with Washington to finalise a bilateral trade agreement between September and November.
An Indian team led by Union Minister of...
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