Trade Deal Talks with US continue, Informs Union Minister in Lok Sabha

There is a noticeable acceleration in the discussions for a bilateral trade agreement between India and the US. This information was provided by the Minister of State for Commerce and Industry, Jitin Prasada, in the Lok Sabha on Tuesday. India had requested consultations under the World Trade Organization (WTO) agreements regarding the US import tariff policy, but the US had rejected it, he clarified.

The Indian delegation had requested consultations under the WTO's 'Agreements of Safeguards' (AOS) regarding import duties on steel, aluminum, and products made from them. However, the United States is refusing consultations, citing its tariff policy as based on 'national security' reasons. India has objected to this stance and insists that any measures should be taken only after issuing a notification under AOS.

Due to this stance of America, India has reserved the right to suspend its balanced concessions, meaning to impose equal import duties on American products in response, Prasad clarified. Discussions regarding trade and investment agreements between India and America began in March this year, and five rounds have been completed so far. The last negotiations took place between July 14 and 18 in Washington D.C. The upcoming sixth round will be held in India on August 25, 2025, and the American delegation will be visiting India for this purpose.

Jitin Prasada stated that while negotiating international trade agreements, the interests of local farmers and industries are safeguarded. Such agreements include provisions for sensitive, negative, and exempt lists. He emphasized that the government is committed to protecting the interests of farmers and local production.