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India, Australia trade talks hit dairy, wine tariff hurdles as year-end deadline looms, say sources

Economic Times

Economic Times · 1m ago

India, Australia trade talks hit dairy, wine tariff hurdles as year-end deadline looms, say sources

India-Australia trade discussions face setbacks due to India's refusal to cut tariffs on dairy and wine, critical issues for concluding the second phase of their trade pact. The reluctance stems from concerns over impacts on Indian farmers and the budding wine industry. Despite these hurdles, both nations remain hopeful, with India suggesting concessions on non-agricultural goods. The ongoing Comprehensive Economic Cooperation Agreement (CECA) seeks to enhance bilateral trade and economic resilience.

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US team to visit India on August 25 for next round of talks for trade pact

Economic Times

Economic Times · 1m ago

US team to visit India on August 25 for next round of talks for trade pact

A U.S. delegation is scheduled to visit India on August 25 for a new round of negotiations on a proposed bilateral trade agreement. Both countries aim to finalize an interim trade deal before the August 1 tariff deadline. Key discussion points include U.S. demands for duty concessions on agricultural and industrial goods and India's requests for tariff relief in sectors like textiles and electronics. Talks are expected to conclude a first phase by September-October.

'Pact driving up almond and machinery exports from South Australia'

Economic Times

Economic Times · 2m ago

'Pact driving up almond and machinery exports from South Australia'

Since the India-Australia Economic Cooperation and Trade Agreement (ECTA) began on December 29, 2022, South Australia has seen increased exports to India, particularly in almonds, horticultural products, machinery, and citrus fruits. Almond exports rose 124% to AUD 21.5 million, while wine exports grew 23% to AUD 8.6 million. Indian exports to Australia, including rice and vehicles, also surged. Ongoing negotiations for a Comprehensive Economic Cooperation Agreement (CECA) aim to further enhance bilateral trade.

Raghuram Rajan warns India to tread 'cleverly & carefully' in US trade talks

Economic Times

Economic Times · 1m ago

Raghuram Rajan warns India to tread 'cleverly & carefully' in US trade talks

Former RBI Governor Raghuram Rajan advises India to be "very careful and clever" in US trade talks, especially in agriculture. He warns that subsidized foreign produce could harm India's small-scale farmers and suggests focusing on enhancing domestic value addition through foreign direct investment (FDI). India, engaged in negotiations for a Bilateral Trade Agreement with the US, has resisted tariff concessions on agriculture and dairy products. Rajan sees opportunities for India if trade tensions are skillfully managed.

India, US push deadline to strike trade deal to 31 July

Livemint

Livemint · 1m ago

India, US push deadline to strike trade deal to 31 July

India and the US have extended their deadline to finalize a trade deal to 31 July, as negotiations continue cautiously. While the US has outlined revised tariff schedules for 14 other countries, India has not received such communication. The delay aims to ensure a well-considered agreement, contrasting with the swift US-Vietnam pact. Trade talks are ongoing, with final decisions awaited from both sides, especially the US Trade Representative and President Trump.

South Korea to raise concerns to US over potential curbs on chipmakers' China operations

Economic Times

Economic Times · 2m ago

South Korea to raise concerns to US over potential curbs on chipmakers' China operations

South Korea's trade minister, Yeo Han-koo, plans to discuss potential U.S. restrictions on South Korean chipmakers operating in China during upcoming trade discussions in Washington. The talks are part of ongoing tariff negotiations, with a current focus on crafting a trade deal by July 8. Yeo, who was recently appointed following a snap election, expressed concerns over U.S. policies that could affect foreign chipmakers and indicated negotiations might extend beyond the initial deadline.

Race against tariffs: India toughens stand on agri trade as US talks enter crucial phase

Economic Times

Economic Times · 2m ago

Race against tariffs: India toughens stand on agri trade as US talks enter crucial phase

India has intensified its position on agricultural issues during crucial trade talks with the US in Washington. Led by Special Secretary Rajesh Agrawal, the Indian delegation seeks to finalize an interim trade agreement to avoid the reinstatement of a 26% US tariff on Indian goods by the July 9 deadline. While the US demands concessions on agricultural, industrial, and tech products, India aims for reduced tariffs on labor-intensive sectors, working towards doubling trade to $500 billion by 2030.

Two days to go: No clarity over US tariffs, trade pact talks on

Economic Times

Economic Times · 1m ago

Two days to go: No clarity over US tariffs, trade pact talks on

With the August 1 deadline approaching, there is uncertainty regarding the U.S.'s higher tariffs on Indian goods. Both countries are engaged in intense trade negotiations, but the exact tariff rates remain unclear. President Trump announced potential tariffs of 15-20% on exports from countries without separate trade deals. The U.S. and India have concluded the fifth round of bilateral trade agreement discussions, aiming to finalize the first tranche by October-November. The outcome of these talks remains uncertain.

India, US eye breakthrough in trade talks as Piyush Goyal visits Washington this weekend - BusinessToday

Business Today

Business Today · 3m ago

India, US eye breakthrough in trade talks as Piyush Goyal visits Washington this weekend - BusinessToday

Commerce Minister Piyush Goyal will visit Washington to lead critical trade talks with the U.S., aiming for an interim bilateral trade agreement. The discussions will focus on market access, non-tariff barriers, and maintaining a balanced trade relationship amidst current tariff pauses. India seeks duty reductions in labor-intensive sectors, while the U.S. seeks concessions in industrial goods and agriculture. The talks build on previous diplomatic groundwork to enhance bilateral trade, aiming for a finalized pact by 2025.

No Trump letter for India, yet: What's happening

Economic Times

Economic Times · 1m ago

No Trump letter for India, yet: What's happening

India has adeptly avoided US President Donald Trump's tariff threats by maintaining diplomatic equilibrium. Although Trump imposed a July 9 deadline for trade negotiations, India did not receive a stern tariff letter, unlike other nations. India's strategy focuses on continuous diplomacy without yielding to unfavorable terms. By keeping dialogue open, India positions itself as a reliable partner. Potentially, a limited trade deal could be reached, focusing on critical sectors like pharmaceuticals, digital commerce, and agriculture.

Indian team in Washington; trade talks to begin Monday: Official

Economic Times

Economic Times · 1m ago

Indian team in Washington; trade talks to begin Monday: Official

An Indian commerce ministry team is in Washington for trade talks on a proposed bilateral trade agreement with the U.S. Negotiations will focus on resolving issues in agriculture, automobiles, and tariffs. India seeks to ease U.S. tariffs on steel, aluminum, and autos, while the U.S. requests duty concessions on dairy and industrial goods. The goal is to conclude the agreement's first phase by fall, with the talks running through Thursday.

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