India and the U.S. are close to finalising a long-awaited trade agreement, Indian Trade Minister Piyush Goyal said on Thursday after the latest round of negotiations with U.S. Trade Representative Jamieson Greer.
Greer concluded a two-day visit to New Delhi on Wednesday for talks aimed at securing a deal widely seen as key to strengthening economic ties between the two countries.
Speaking at an event in London, Goyal said negotiations were nearing completion, adding that the agreement now depended on Washington establishing the legal framework needed to give India tariff advantages over competing Asian economies.
"The day that happens, the deal is on," Goyal said.
India has been seeking lower tariffs on its exports than those imposed on goods from rival manufacturing hubs, while the U.S. has pressed New Delhi to increase imports of American products and further reduce trade barriers.
The two countries reached a preliminary understanding in February that included an 18% tariff on Indian goods in exchange for greater market access for U.S. exports. At the time, the proposed tariff was lower than those applied to competitors such as Bangladesh and Vietnam.
However, progress stalled after the U.S. Supreme Court invalidated President Donald Trump's sweeping global tariff policy, creating uncertainty over the legal basis for the agreement.
Negotiations have also been complicated by an ongoing Section 301 investigation by the Office of the U.S. Trade Representative into alleged overcapacity and forced labour in India and several other countries.
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India and the U.S. are close to finalising a long-awaited trade agreement, Indian Trade Minister Piyush Goyal said on Thursday after the latest round ...
Hungary's ruling Tisza party has proposed a constitutional amendment that would remove President Tamás Sulyok from office, introduce term limits for ...
NATO has grown from 12 founding members in 1949 to a 32-country alliance spanning Europe and North America. Its combined military strength, defence spending and future ambitions underline its position as the world's largest military alliance.
China has urged the United States to end its decades-long sanctions and embargo on Cuba after Washington imposed new restrictive measures on entities and an individual linked to the Cuban government.
Hungary's ruling Tisza party has proposed a constitutional amendment that would remove President Tamás Sulyok from office, introduce term limits for MPs and overhaul key elements of the country's political system.
Mohammed Aydah, a correspondent for Saudi-owned broadcaster Al Arabiya, was killed after a bomb attached to his car exploded in eastern Yemen, the network said on Thursday.
Russia has called for clarification on whether U.S. President Donald Trump has changed his position on the war in Ukraine following remarks made at the recent G7 summit in Evian-les-Bains.
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Israel's defence minister said on Wednesday Israeli troops will not withdraw from southern Lebanon, highlighting a hurdle to Iran-U.S. peace talks, as the top U.S. diplomat tours the Middle East to win over allies sceptical about a proposed deal.
The U.S. Senate rejected a resolution on Wednesday that would have directed President Donald Trump to remove U.S. forces from hostilities against Iran unless Congress formally authorised military action.
U.S. President Donald Trump said that Iran had agreed to nuclear inspections into "infinity, despite Tehran's denials, and that unfrozen Iranian assets would be used to buy humanitarian supplies from the United States.
The United Kingdom recorded a provisional high of 36.4°C on Thursday, according to the Met Office, making it the hottest June day on record. The extreme heat is part of a wider heatwave affecting much of Western Europe, with temperatures remaining well above seasonal averages.
NATO has grown from 12 founding members in 1949 to a 32-country alliance spanning Europe and North America. Its combined military strength, defence spending and future ambitions underline its position as the world's largest military alliance.
China has urged the United States to end its decades-long sanctions and embargo on Cuba after Washington imposed new restrictive measures on entities and an individual linked to the Cuban government.
Hungary's ruling Tisza party has proposed a constitutional amendment that would remove President Tamás Sulyok from office, introduce term limits for MPs and overhaul key elements of the country's political system.
The U.S. Supreme Court has cleared the way for President Donald Trump's administration to end Temporary Protected Status (TPS) for hundreds of thousands of immigrants from Haiti and Syria, handing the White House another victory on immigration.
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