Representatives of India and the US concluded the fifth round of talks on a bilateral trade agreement, which was held in Washington from July 14 to 17, PTI reported, citing a government source.
There is no information yet on the outcome of the talks. It is reported that the fifth round covered issues related to agriculture and automobiles, as well as dual-use goods including chemicals, materials, equipment and technology.
The two sides are aiming to conclude an interim trade agreement before August 1, when the suspension of tariffs imposed by US President Donald Trump on several dozen countries ends. India is seeking to eliminate this additional tariff, which could be as high as 26% for the country.
India has hardened its stance against the US demand for lower tariffs on agricultural and dairy products. New Delhi has so far not granted any tariff concessions to any of its trading partners under the dairy free trade agreement. Some farmers' associations have urged the government not to include any agriculture-related issues in the trade agreement.