Hope for Indian Exporters: India-US Tariff Issues Set for Resolution in 8-10 Weeks
Kolkata, Sep 18: Good news for Indian exporters! Chief Economic Advisor V. Anantha Nageswaran shared an optimistic update today, saying a solution to the ongoing India-US tariff disputes could come as soon as 8-10 weeks. Speaking at an event by the Bharat Chamber of Commerce in Kolkata, he revealed that talks between the two governments are already in full swing to break the deadlock.
"My hunch is we’ll see a fix to the US penalties on Indian goods within the next eight to 10 weeks," Nageswaran told the audience. He also hinted at efforts to slash the reciprocal tariffs from 25% down to around 15%, which could ease the burden on Indian products heading to the US market.
These extra 25% tariffs kicked in on August 27, triggered by India’s decision to buy Russian oil. That pushed the total tariffs on Indian imports to the US up to a whopping 50%, hitting exporters hard. Nageswaran touched on the recent birthday call between Prime Minister Narendra Modi and US President Donald Trump, adding, "Conversations are ongoing, and I hope this trade stalemate wraps up soon." He shared this with on the event’s sidelines.
In a big push forward, India and the US are ramping up work on a Bilateral Trade Agreement (BTA) that benefits both sides. This week, a US team from the Office of the United States Trade Representative arrived in India, led by chief negotiator Brendan Lynch. They met with Indian officials, including Special Secretary of Commerce Rajesh Agrawal, to discuss key India-US trade ties and the BTA.
The Commerce and Industry Ministry called the talks "positive and forward-looking." They covered various aspects of the trade deal and agreed to speed up efforts for an early, win-win agreement. Sources in the ministry say discussions are happening at multiple levels, with both countries approaching India-US trade issues in a positive spirit.
This visit by Lynch comes right after upbeat signals from Trump and PM Modi, raising hopes for a solid India-US trade deal soon. For Indian exporters, these developments could mean smoother access to the massive US market and relief from tariff hurdles. Stay tuned as more updates roll in on this key economic story.
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