India and the United States have started a four-day meeting in New Delhi to finalize an interim trade agreement. The meeting, which began on Monday, aims to conclude the legal and technical aspects of the preliminary agreement reached in February. Various pending issues will also be discussed.
According to Reuters, India will discuss the 'Section 301 investigation' by Washington and potential tariff measures. India seeks exemption from the tariffs imposed under Section 301 and aims to secure a more favorable tariff rate compared to its competitors in South and Southeast Asia.
The preliminary trade agreement reached in February saw a reduction in US tariffs on Indian goods from 50% to 18%. However, the US Supreme Court's ruling against President Trump's imposed tariffs led to a 10% tariff on all countries, complicating the agreement. The changed situation necessitated a re-evaluation of the February agreement.
