New Delhi/Washington: An Indian team of trade negotiators is set to likely travel to the United States once again, to seek clarity regarding several recent announcements from Washington, including a proposed 10 per cent tariff on imports from BRICS countries, as well as to continue negotiations for a ‘mini’ trade deal and a wider Bilateral Investment Treaty.
The dates for the visit are yet to be confirmed, but the team is likely to visit Washington next week, PTI reported, citing sources.
India and the US have failed to lock a deal as the two countries remain in a deadlock on some key issues. In the meantime, the United States has extended the tariff deadline from July 9 to August 1, providing the two countries with necessary time to finalize a trade deal.
This would be the third time an Indian team of negotiators will travel to the US to discuss the trade deal. A US team has also traveled to India twice during this period.
Last week, Indian trade and commerce minister Piyush Goyal said that the country’s interest remains paramount in the ongoing trade talks, and it will not rush into an agreement to meet the deadlines from the United States.
The visit comes in the midst of President Donald Trump issuing fresh letters to countries intimating them about the imposition of unilateral tariffs on their exports to the US. So far, letters have been issued to more than 20 countries, including some of the key trade partners of the US. India has been spared the letters because both sides are negotiating a trade agreement.
On many occasions, Trump and other senior US officials said the deal with India is “very close,” and that it’s going to be a “big” one.
The US remains the biggest market for India’s exports and the only major economy with which it enjoys a trade surplus. In FY 2025, trade between India and the US reached $186 billion as per commerce ministry data. India exported $ 86.5 billion in goods to the US while importing $45.3 billion, creating a goods trade surplus of $41 billion.
