India, US May Tie Up Early Harvest Deal by June Third Week

India and the US want to conclude bilateral trade talks for an interim deal by the third week of June that could not only revoke the 10% baseline tax already imposed by the Trump administration from April 5 but also annul the proposed additional reciprocal tariffs on Indian goods that will come into effect from July 9, people familiar with the matter said.

- Rajeev Jayaswal

An early harvest deal—mostly related to reduction of tariffs on goods and elimination of non-tariff barriers—is expected to be finalized after the two negotiating teams meet in New Delhi next month, they added, requesting anonymity.

Commerce minister Piyush Goyal was in Washington last week and met with his counterpart Howard Lutnick twice in the context of the deal, which some of the people cited above said, could be closed before June 25. Rajesh Agrawal, India's chief negotiator was also in the US last week to discuss the deal.

On Tuesday, foreign secretary Vikram Misri met US Under Secretary Jeffrey Kessler in Washington and the Indian embassy in Washington said that among other issues, the two "discussed early convening of the India-US Strategic Trade Dialogue to deepen tech & trade collaboration."