India and US to reschedule chief negotiators meet on interim trade deal

NEW DELHI : India and the US have decided to reschedule the proposed meeting of their chief negotiators in Washington to finalise the text of the interim trade pact, sources said on Sunday.

The Indian team was scheduled to start the three-day meeting on February 23. “With regards to the visit of the Indian team of negotiators to the US for the India-US Trade Deal, the two sides are of the view that the proposed visit of the Indian Chief Negotiator and the team be scheduled after each side has had the time to evaluate the latest developments and their implications. The meeting will be rescheduled at a mutually convenient date,” a source said.

The Indian delegation, led by Commerce Ministry Joint Secretary and Chief Negotiator Darpan Jain, was scheduled to begin a three-day meeting in Washington from February 23 to finalise the text of the interim agreement. Commerce Minister Shri Piyush Goyal had earlier indicated that the pact could be signed around mid-March.

Commerce ministry sources said the visit has been deferred to allow both sides to assess the implications of recent developments. “With regards to the visit of the Indian team of negotiators to the US for the India-US trade deal, the two sides are of the view that the proposed visit of the Indian chief negotiator and the team be scheduled after each side has had the time to evaluate the latest developments and their implications. The meeting will be rescheduled at a mutually convenient date,” sources said.

The decision comes after the US Supreme Court ruled that President Donald Trump had exceeded his authority in imposing sweeping global tariffs under the International Emergency Economic Powers Act of 1977. Following the verdict, Trump initially announced a 10 per cent tariff on all countries, including India, for 150 days from February 24, and later revised it to 15 per cent.
Earlier this month, India and the US had announced a framework for an interim trade agreement under which US tariffs on Indian exports were reduced to 18 per cent. In August last year, the US had imposed 50 per cent tariffs on India, half of which was linked to purchases of Russian oil.

On Friday, MEA spokesperson Randhir Jaiswal had said that a delegation led by the chief negotiator was expected to visit the US to work towards finalising the interim agreement. However, MEA secretary (East) P. Kumaran later said both sides would adopt a “wait-and-watch” approach to study the implications of the court ruling and any subsequent US action. Officials said the commerce ministry is examining which tariffs remain in force and the possible impact on bilateral trade before the talks are rescheduled.