Trade Talks Conclude, India Eyes Tariff Respite From US

India and the US concluded their first face-to-face trade talks with "significantly positive outcomes" that may secure New Delhi some exemptions from Washington's planned April 2 retaliatory tariff action, people close to the development said.

- Rajeev Jayaswal

The four-day discussions, which began on Wednesday and were extended by a day, resulted in both sides agreeing on a broad contour for negotiating a bilateral trade agreement on a broad contour for negotiating a bilateral trade agreement (BTA). The commerce ministry confirmed that the two partners discussed increasing market access and reducing tariff and non-tariff barriers.

"Sectoral expert level engagements under the BTA will start virtually in the coming weeks and pave the path for an early negotiating round in person," the commerce ministry said in a statement issued Saturday evening.

Officials familiar with the negotiations pointed to several positive indications from the talks. "Firstly, the bilateral trade negotiation in New Delhi was extended by one more day. Secondly, the two now agreed to enter into the next level of talks through virtual mode.

Thirdly, India is the only country engaging with USA to sign a mutually beneficial BTA while others like China, Canada, Mexico, Germany and the European Union are resorting to retaliation.

And finally, President Trump's positive reference with regard to India," said one of these people, requesting anonymity.