India-U.S. Bilateral Trade Agreement (BTA) Talks
The Ministry of External Affairs spokesperson emphasized the ongoing progress in bilateral trade agreement talks between India and the United States. Despite the recent comments by U.S. President Donald Trump about imposing “reciprocal tariffs” on India, the focus remains on advancing the BTA.
U.S. Tariff Concerns
- President Trump announced that India will face higher tariffs from the U.S. as retaliation for its tariffs on American goods, starting April 2, 2025.
- Commerce Minister Piyush Goyal visited Washington to meet U.S. officials, although no detailed outcomes were disclosed.
Objectives of the BTA
The bilateral trade agreement aims to:
- Strengthen and deepen India-U.S. trade across goods and services.
- Increase market access and reduce both tariff and non-tariff barriers.
- Enhance supply chain integration between the two countries.
U.S. Trade Representative’s Priority Watch List
- India is on the “Priority Watch List” for various trade and intellectual property issues.
- India’s average tariff on imported U.S. goods is approximately 7.7%, while the U.S. charges about 2.8% on Indian goods.
Extradition of Tahawwur Rana
- President Trump promised to extradite 26/11 accused Tahawwur Rana to India, pending U.S. appeals processes.
- The U.S. Supreme Court rejected Rana’s emergency plea to stay his extradition order.
- India is collaborating with the U.S. to complete necessary formalities for Rana's extradition.